Business & Markets
BP profit jumps to $3.91bn as oil prices rise
BP reported profit after tax of $3.91 billion for the April-June quarter, up from $1.62 billion a year earlier, as oil and gas prices rose during the Middle East war.
The British energy company said total revenue increased 47% year on year to $70 billion. BP said the conflict disrupted global fossil fuel supplies, while energy prices moved on news linked to the US-Iran war.
Chief executive Meg O'Neill, who has been CEO since April, said the latest period had been marked by major disruption in the global energy market. She also said BP was “not making the most of our potential” and that performance in recent years had not met the company's expectations or those of shareholders.
The earnings came after BP launched moves on Friday to sell its North Sea business. The company had cut clean energy investment before O'Neill's appointment as it turned back toward its more profitable oil and gas operations.
Update
BP said total revenue rose 47% year on year to $70 billion in the second quarter.
Chief executive Meg O'Neill said BP was not making the most of its potential and that recent performance had not met expectations.
BP launched moves on Friday to sell its North Sea business.
BP had cut clean energy investment before O'Neill's appointment as it shifted back toward oil and gas.
Source note: AFP news report published on 4 August 2026 at 06:47:19 UTC.
Update
BP said profit after tax was $3.91 billion in April-June.
BP said profit after tax was $1.62 billion in the second quarter of 2025.
The item says the increase came as oil and gas prices rose from a year earlier during the Middle East war.
Source note: AFP news report published on 4 August 2026 at 06:31:47 UTC.
Source
AFP news report published on .