BP’s profits surged to their highest since 2023 in the first quarter, blowing past expectations, as its oil traders capitalised on the volatility sparked by the Iran war.
The UK energy major on Tuesday reported adjusted profit of $3.2bn for the first quarter, above the $2.7bn forecast by analysts and the $1.38bn it made in the first three months of 2025.
In its first set of results since Meg O’Neill took over as chief executive this month, BP hailed the “exceptional” performance of its oil trading division.
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