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BP slammed as profits more than double during Iran war
['Henry Saker-Clark', 'Tue', 'August At Am Bst', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
BP has faced criticism after revealing its strongest quarterly profits in four years, a surge boosted by volatile energy prices amid the Middle East conflict.
This sharp jump, exceeding analyst predictions, stemmed from its refining and trading business benefiting from rising prices during the Iran war.
Rivals such as Shell and ExxonMobil have also reported stronger profits, similarly boosted by the conflict.
The group confirmed plans to move further away from renewables, revealing plans to sell off its US renewable natural gas business Archaea.
Last week, BP said it was putting its UK North Sea business up for sale after 60 years of production.