BP Preps for 2022 Project Startups as High Prices Boost Profits

SUGAR LAND--February 9, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The world continues to grapple with the economic fallout from the COVID-19 pandemic, but oil and gas majors are too busy celebrating record-breaking bottom lines, which have been bolstered by sky-high commodity prices. BP plc (NYSE:BP) (London, England) recently reported its strongest full-year net profits in nearly a decade, as oil prices hit seven-year highs. BP is counting on several high-value projects, including offshore developments, to keep the momentum going. Industrial Info is tracking nearly $28 billion worth of active projects worldwide from BP, including more than $6 billion worth in the U.S. and Canada. Within this article: Details on some of BP's most ambitious projects, including offshore projects in the Gulf of Mexico and Angola, and proposals in the rapidly developing green hydrogen market. Other companies featured: Dominion Energy Incorporated (NYSE:D) and Lundin Energy.