BP profits more than double as Iran war sends oil prices soaring
BP has reported its highest quarterly profits since the start of Russia's war on Ukraine, with profits more than doubling to $5.73bn in the three months to the end of June. The increase in profits is attributed to rising oil and gas prices caused by the Middle East crisis. The company's new chief executive, Meg O'Neill, has stated that there is still more to be done to reach the company's full potential.
- ▪BP's quarterly profits more than doubled to $5.73bn in the three months to the end of June.
- ▪The company's new chief executive, Meg O'Neill, is expected to undertake an overhaul of the 117-year-old company, including an exit from the North Sea.
- ▪The Middle East crisis has also helped other oil companies, such as Shell and Aramco, to report significant increases in profits.
2 outlets in our directory ran this story, first to last over 33 hours. All of the coverage we found sits in one bucket: lean left. That one-sidedness is itself worth noticing.
- ▪ Oil Prices Plummet as Investors Digest Pause in Iran War Fighting — NYT > Top Stories
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| Original publisher | The Guardian — World |
| Canonical URL | https://www.theguardian.com/business/2026/aug/04/bp-profits-iran-war-oil-prices-shell |
| Publication time | Tue, 04 Aug 2026 06:54:30 GMT |
| Retrieval time | 2026-08-04T07:05:47.165Z |
| Last seen | 2026-08-04T07:05:47.165Z |
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| Cluster | dsxn1tzFfRuA · 2 stories |
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BP has put its North Sea oil and gas business up for sale. Photograph: Kirsty Wigglesworth/APView image in fullscreenBP has put its North Sea oil and gas business up for sale. Photograph: Kirsty Wigglesworth/APBPBP profits more than double as Iran war sends oil prices soaringEnergy company’s $5.73bn quarterly profits come after Shell posted second highest quarterly earnings on record Business live – latest updates Jillian AmbroseTue 4 Aug 2026 02.54 EDTLast modified on Tue 4 Aug 2026 03.02 EDTSharePrefer the Guardian on GoogleBP has reported its highest quarterly profits since the first year of Russia’s war on Ukraine because of rising oil and gas prices caused by the Middle East crisis.The oil company’s quarterly profits more than doubled to $5.73bn (£4.27bn) in the three months to the…
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