Another record profit for an oil giant. BP more than doubled last year’s annual profit as fossil fuel prices soared following Russia’s full-scale invasion of Ukraine. The British energy giant posted underlying replacement cost profit of $27.7 billion for 2022. That compared with $12.8 billion for the previous year. BP CEO Bernard Looney described the earnings as a “good set of results.”
While many employees have returned to the office, local officials say there’s an overabundance of office space available in Baton Rouge. Corporate Realty says what it’s seen in Baton Rouge is “a lot of downsizing, not a whole lot of new tenants coming in, and a lot of flat-out working from home.” In some office buildings, only 50- to 60% of the workforce is back.
Markets opened mixed this morning after stocks closed lower yesterday. The Dow Industrials fell 35, the Nasdaq lost 119 and the S&P 500 was down 25.
