12:01 - 4.08.2026

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August 4, Fineko/abc.az. Energy giant BP has posted its highest quarterly profit in more than four years, driven by strong refining margins and trading activity amid the war with Iran.

According to BP's second-quarter earnings report, underlying replacement cost profit more than doubled year-on-year to reach $5.73 billion, outperforming average analyst estimates of $5.01 billion compiled by Bloomberg.

Middle East conflicts and global trade disruptions drove up fuel prices faster than crude oil, significantly lifting refining margins across the sector and prompting the energy giant to initiate the sale of its renewable natural gas unit, Archaea Energy. Beyond the headline figures, investors and analysts are closely assessing whether BP's cost-cutting measures, debt reduction, and portfolio optimization strategy will deliver sustainable long-term returns and competitive valuation relative to its peers.