BP Profit Soars 143% as Iran War Drives Oil Prices Higher
BP's second-quarter profit skyrocketed by 143% to $5.7 billion, more than double its earnings from the same period in 2025, as the US-Iran conflict sent oil and gas prices soaring.
The company's results far exceeded analysts' expectations of $5 billion, with BP CEO Meg O'Neill attributing the strong performance to a global commodity price increase. 'The reality is we produce a global commodity and the prices for the product we sell hangs off that global commodity price,' O'Neill said.
However, environmental groups criticized the company's massive profits as unseemly, with Friends of the Earth campaigns head Rosie Downes stating that 'millions of households are paying the price through sky-high energy bills and a climate crisis accelerating rapidly out of control.'