Business Live with Ian King: BP records second highest profits since 2012

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Join Ian King and guests for all the latest business news from the City, as oil giant BP records underlying replacement cost profits of $13.8bn (£11bn) during 2023.

That was down from the record $27.7bn (£22.1bn) sum achieved in 2022.

It was largely due to lower oil prices but remained its second highest figure since 2012.

The annual profit total was aided by a better than expected performance in the final quarter - boosted by stronger than anticipated gas trading

Plus, retail sales grew at their slowest pace in January for 17 months as consumers continued to struggle with the cost of living.

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