The company said improved realizations, stronger refining margins and brisk trading helped drive earnings as CEO Meg O'Neill pushes a return to core oil and gas.
BP reported second-quarter net profit of $3.9 billion on August 4, 2026, more than doubling from a year earlier as volatility in oil and gas prices linked to the escalating US-Iran conflict boosted results. Underlying replacement cost profit, BP's preferred earnings measure, rose to $5.7 billion, lifted by improved liquids and gas realizations, higher refining margins and a vigorous trading performance. It was the first major quarterly report under new CEO Meg O'Neill, who took over in April and is steering the company back toward its core oil and gas business. BP also raised its dividend by 4% to 8.66 cents per share and said it expects the favorable pricing backdrop to continue into the second half of 2026.