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BP profits nearly QUADRUPLE to £6.3bn on Iran war oil prices as campaigners brand the haul 'obscene'

Meg O'Neill, pictured in June, leads BP as its debt halved to $13.9bn and analysts warned its green pivot was "highly value destructive.
Meg O'Neill, pictured in June, leads BP as its debt halved to $13.9bn and analysts warned its green pivot was "highly value destructive.
BP wrote down $5bn on its renewables arm as third-quarter profit nearly quadrupled, with rival Shell posting $12.1bn — its highest quarterly haul since 2022.
BP wrote down $5bn on its renewables arm as third-quarter profit nearly quadrupled, with rival Shell posting $12.1bn — its highest quarterly haul since 2022.

BP's chief executive Meg O'Neill said refineries had been running "close to capacity" to compensate for supply disruptions after the Strait of Hormuz shipping route was closed, driving the oil giant's adjusted profits to £6.31bn for the three months to September 30. The result smashed forecasts and came a day after fellow oil major Shell posted quarterly profits of £8.06bn.

BP has made £13bn in the first nine months of 2026 alone, with oil prices up to $117 a barrel on Friday.

Global Witness says BP's haul pushes Europe's six biggest oil firms to $89bn in combined profits this year as households face another painful winter of soaring energy costs.

BP also confirmed it is targeting an early settlement of its outstanding Deepwater Horizon liabilities, raising the stakes further for the company.

MoreThe TelegraphBP profits hit 18-year high despite $4bn net zero lossGB NewsBP profits nearly QUADRUPLE amid Iran war as environmental groups slam 'obscene' amountsEvening StandardBP reports soaring profits in ‘obscene’ sector haul amid oil price crisisReutersBP beats forecasts with record profit, targets early settling of Deepwater Horizon bill
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