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BP profit soars as Mideast war roils energy prices
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British energy giant BP said Tuesday that its net profit more than doubled in the second quarter as the Middle East war roiled oil and gas markets.
Profit after tax jumped to $3.91 billion in the April-June period from $1.62 billion in the second quarter of 2025, BP said in an earnings statement, as prices of fossil fuels soared year-on-year.
The five biggest Western energy majors -- BP, Chevron, ExxonMobil, Shell and TotalEnergies -- reported combined net profits of almost $47 billion in the second quarter as earnings multiplied on the US-Iran conflict.
BP's total revenue increased 47 percent to $70 billion in the second quarter from a year earlier as the conflict disrupted global supplies of fossil fuels.
BP said that a core profit measure that strips out certain items more than doubled to $5.7 billion in the quarter, outperforming expectations.