BP Q2 profits reach $3.9 billion
British Petroleum (BP) achieved an underlying profit of $5.73 billion in Q2 2026, representing a 144% increase compared to the same period last year, driven by higher oil and gas prices, improved refining margins, and trading activities. The company also saw revenue rise to over $70 billion, with profits increasing in the refining, upstream, and low-carbon energy sectors, despite a decline in oil production to 2.2 million barrels per day due to operational challenges and Middle East disruptions. BP announced the start of marketing its assets, such as Archaea Energy, and its strategy to sell assets worth billions of dollars, focusing on debt reduction and operational efficiency. The company expects to deliver strong profits and capital expenditures ranging from $13.5 billion to $14 billion in 2026.
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