BP Reports $5.7 Billion Profit Amid Oil Price Surge
Earnings·2 articles across 2 outlets
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
BP reported a net profit of $5.7 billion for the second quarter, more than doubling its profit from a year earlier. The surge in earnings was attributed to higher oil and gas prices and stronger refining margins due to supply disruptions in the Middle East.
This profit marks BP's highest since 2022, as rising oil prices have significantly boosted the energy giant's results. However, environmental groups have accused BP of profiteering amid the ongoing crisis.
BP
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“The British oil giant reported net profit of $5.7 billion in the second quarter, surpassing Wall Street consensus.”
MarketWatch — Energy shock delivers 144% boost in profits for BP“BP more than doubled its profit for the second quarter from a year earlier on the back of higher oil and gas prices and stronger refining margins driven by the shock supply disruption in the Middle East.”
oilprice — BP Earnings Surge to $5.7 Billion on Oil Price and Refining Boom“Higher oil prices boost the energy giant's results while environmental groups accuse it of profiteering.”
bbc — BP's $5.7bn profit highest since 2022 as Iran war pushes up oil price