BP doubles its profits as Iran war elevates oil prices
Key takeaways
- It s the company s highest profit in three years and first reported sign of growth under CEO Meg O Neill, who was appointed to lead BP in April.
- The British oil giant also bounced back from a $3.4 billion loss in the fourth quarter of 2025 by using oil traders to leverage rapid fuel price fluctuations and generate profits, according to BP.
- We are heading in the right direction, strengthening the balance sheet and continuing to accelerate delivery.
Why this matters: political developments that affect policy direction and public trust.
It s the company s highest profit in three years and first reported sign of growth under CEO Meg O Neill, who was appointed to lead BP in April. The quarterly earnings are double the amount from the first quarter of 2025.
The British oil giant also bounced back from a $3.4 billion loss in the fourth quarter of 2025 by using oil traders to leverage rapid fuel price fluctuations and generate profits, according to BP.
We are heading in the right direction, strengthening the balance sheet and continuing to accelerate delivery. Now, we have to capitalize on the opportunity that exists across our portfolio, simplifying how we work, unlocking growth and driving improved returns, O Neill said in a news release.