After Shell, oil company BP also records a mega profit

BP reported a profit of $8.5 billion in the last quarter, the highest in 18 years, driven by high energy prices due to the Middle East conflict. The company benefits from increased refining margins as oil supply disruptions affect operations. Natural gas prices have also surged significantly. Other oil companies like Shell and TotalEnergies have reported substantial profits as well. There are ongoing discussions in the Netherlands about imposing extra taxes on these high profits, but challenges arise due to Shell's British status, complicating local taxation efforts.