The earnings were supported by stronger crude, natural gas and refined fuel prices during the recent conflict involving Iran. Alongside its earnings report, BP announced plans to sell Archaea Energy, the U.S.-based renewable natural gas producer it acquired in 2022 for roughly $4 billion. The business captures methane emissions from landfill sites and converts them into renewable natural gas, but has fallen short of the returns BP expected from the investment. In its earnings statement, O'Neill said BP is taking a fresh look at the business to improve performance, reduce complexity and strengthen areas that generate stronger financial returns, Financial Times reported. BP's strong quarter mirrored results across parts of the global energy industry.