quarter. think bp has made in the last auarter. ., think bp has made in the last auarter. . ., ., quarter. thanks for having me on our quarter. thanks for having me on your show. quarter. thanks for having me on your show. strong - quarter. thanks for having me on your show. strong oil - on your show. strong oil prices, they have risen more than 70% in the past year and national gas prices in europe at an all time high, that has been very kind to bp, they have boosted their revenues and also its refining margins as well, so it is not only the pulling the oil out of the ground that has benefited, but the downstream, turning that oil into products and selling that there has also benefited in this environment, so we are expecting strong results from bp, as as well as the other other oil companies that have announced results last week. it announced results last week. it has had a rollercoaster few years, because you remember when the pandemic first kicked in oil prices sunk significantly
and will have boosted its revenues and also its refining margins as well. so it s not only its upstream business, the pulling of oil out of the ground that has benefited, but also the downstream stuff, turning the oil into products and selling them will also have an affected in this environment. so we are expecting some strong results from bp, alongside the other international world companies that have already announced results this week. and that s very welcome, isn t it? it s had a roller coaster few years. we all remember when the pandemic first kicked in. oil prices sunk significantly as global demand just fell off a cliff. let s now talk about future for bp because of course it s got a huge transformation ahead of it. so what will we hear about that? yes, so bp, amongst the big international oil companies have probably been the most progressive in terms of announcing its transition plan.
Asian refiners have so far been broadly unfazed by the the Russia-Ukraine conflict as Russian oil makes up only a small portion of many Asian countries’ refinery feedstock import baskets, with many alternatives seen available. As Russian crude makes up only 1-6% of overall crude imports by Asian economies, excluding China, major refiners across the .