London: Last year, the net profit of the British company BP experienced a significant decline, dropping from $15.239 billion in 2023 to $381 million. BP ended the fourth quarter of last year with a net loss.

According to Azeri-Press News Agency, the company’s official report on its full-year 2024 and Q4 2023 financial results revealed that BP’s net loss in the fourth quarter of 2024 amounted to $1.959 billion, compared to a profit of $371 million for the same period in 2023.

BP is recognized as one of the main participants in large oil and gas projects in Azerbaijan, further highlighting the impact of these financial results within the broader energy market.