BP’s 2022 annual results

In this interview given to Sally Bundock from BBC World News, Dr Carole Nakhle, CEO of Crystol Energy, discusses BP’s 2022 annual report’s results.

Dr Carole Nakhle discusses BP's 2022 annual report's results with Sally Bundock from BBC World News

Key takeaways:

  1. BP’s results are aligned with the industry’s performance which benefited from high oil and gas prices that we saw last year.
  2. The oil industry is cyclical in nature and it is the market, not the energy companies, that sets prices.
  3. The oil sector is typically subject to a higher government take than other sectors in the economy. The UK is no exception. 
  4. A cleverly designed tax system captures excess profits and at the same time incentivises energy companies to invest more in the sector rather than deterring them from doing so.

Related Analysis

Oil markets: An early peek into 2023“, Dr Carole Nakhle, Jan 2023

Related Comments

What is the Outlook for Commodities in the Wake of Peak Inflation & Peak Rate Tightening Cycle in 2023?“, Dr Carole Nakhle, Jan 2023

Outlook for oil and gas markets for 2023“, Dr Carole Nakhle, Jan 2023

UK expands windfall tax to 35% for oil and gas companies“, Dr Carole Nakhle, Nov 2022

Shell’s 2022 Third Quarter Profits“, Dr Carole Nakhle, Oct 2022

Record profits for oil-producers“, Dr Carole Nakhle, Aug 2022

Share this:

Recent Posts

SPE Tech Talks

Crystol Energy is proud to announce its collaboration with the Society of Petroleum Engineers (SPE). The energy transition and the transformation of our global and

Read More »