Huge earnings for energy company BP

The energy company BP, which supplies oil and gas to people around the world, has announced that it has made £4 billion so far this year. Some UK politicians want the company to pay more tax to help people pay their energy bills. Tax is money that companies and people pay to the Government, which funds public services like schools and hospitals. Last year, the cost of oil and gas soared after Russia invaded Ukraine, and people had to spend more on their energy bills. This is because Europe stopped buying gas from Russia, the world’s biggest supplier. There was less gas available, so it became more expensive. As a result, BP and other energy companies reported record high earnings. BP made £23 billion in 2022. The UK Government introduced…

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The Week Junior (UK) (Digital) - 1 Issue, 386

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