{"id":5244,"date":"2026-04-28T07:14:46","date_gmt":"2026-04-28T07:14:46","guid":{"rendered":"https:\/\/www.worldpumpnews.com\/?p=5244"},"modified":"2026-04-28T07:14:46","modified_gmt":"2026-04-28T07:14:46","slug":"bp-reports-surge-in-profits-as-iran-war-pushes-oil-prices-higher","status":"publish","type":"post","link":"https:\/\/www.worldpumpnews.com\/?p=5244","title":{"rendered":"BP reports surge in profits as Iran war pushes oil prices higher"},"content":{"rendered":"<p><\/p>\n<div><!--$--><\/p>\n<p><h2>BP attributed the more than doubling of profits to \u201cexceptional\u201d oil trading.<\/h2>\n<\/p>\n<p><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose drop-cap \">\n<p>It&#8217;s been announced that BP&#8217;s profits for the first three months of the year have more than doubled following a surge in oil prices since the beginning of the Iran war.<\/p>\n<\/div>\n<p><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>In its first results since the conflict began, the energy giant reported profits of $3.2bn (\u00a32.4bn) for January to March, driven by an \u201cexceptional\u201d performance in its trading division.<\/p>\n<\/div>\n<p><!--\/$--><!--$--><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>The figure was higher than analysts had initially anticipated and more than double the $1.38bn it reported in the same period last year.<\/p>\n<\/div>\n<p><!--\/$--><!--$?--><template id=\"B:0\"\/><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>These results are the first under new chief executive Meg O&#8217;Neill, who took over the reins at the beginning of April when her predecessor, Murray Auchincloss, left after less than two years in the role.<\/p>\n<\/div>\n<p><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>The US-Israel conflict with Iran, which began on 28 February, has pushed oil prices higher after the Strait of Hormuz, which handles around 20% of global oil and LNG flows, was effectively closed.<\/p>\n<\/div>\n<p><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>The global benchmark for oil prices, Brent crude, is currently trading at about $110 a barrel, compared to around $73 before the Iran war began.<\/p>\n<\/div>\n<p><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>O&#8217;Neill said she had joined &#8220;at a time when our industry is operating in an environment of conflict and complexity&#8221;.<\/p>\n<\/div>\n<p><!--\/$--><!--$--><\/p>\n<div class=\"custom-prose  \">\n<p>She added BP had been &#8220;working with customers and governments to get fuel where it&#8217;s needed, helping minimise disruption and the impact it can have on people&#8217;s lives&#8221;.<\/p>\n<\/div>\n<p><!--\/$--><!--$?--><template id=\"B:1\"\/><!--\/$--><!--$--><!--\/$--><\/div>\n<p>#reports #surge #profits #Iran #war #pushes #oil #prices #higher<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP attributed the more than doubling of profits to \u201cexceptional\u201d oil trading. It&#8217;s been announced that BP&#8217;s profits for the first three months of the year have more than doubled following a surge in oil prices since the beginning of the Iran war. In its first results since the conflict began, the energy giant reported [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5418,567,613,4166,503,1024,768,533,583,239,96],"class_list":{"0":"post-5244","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"tag-bp","9":"tag-higher","10":"tag-iran","11":"tag-iran-war","12":"tag-oil","13":"tag-prices","14":"tag-profits","15":"tag-pushes","16":"tag-reports","17":"tag-surge","18":"tag-war"},"_links":{"self":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/5244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5244"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/5244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/media\/5245"}],"wp:attachment":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}