Bumper BP profits reignite debate over tougher windfall tax

Oil and gas company beats analysts' forecasts as its profits reach $5bn in the first three months of the yearLabour calls for energy firms to pay more tax on ?60m-a-day profitsAnalysis: does UK need to drill for more North Sea oil and gas?BP has beaten City forecasts to post one of the largest first-quarter profits in its history despite an easing in energy prices, reigniting a debate over windfall gains by oil and gas firms.The energy company said its underlying profits reached $5bn (?4bn) in the first three months of the year, outstripping analysts' forecasts of $4.3bn. Continue reading...