BP has come under fire after posting its strongest quarterly profits in four years, boosted by volatile energy prices during the Middle East conflict.
The FTSE 100 company said its underlying replacement cost profit surged about 78% to $5.7 billion (£4.2 billion) in the second quarter of 2026, beating analyst expectations.
New CEO Meg O’Neill said she is taking 'urgent action' to boost shareholder value and announced plans to sell its US biogas business, Archaea.
Campaigners accused BP of profiteering from the crisis. Friends of the Earth’s Rosie Downes said: 'Clearly not everyone is feeling the pain of the energy crisis.'
BP also confirmed plans to sell its UK North Sea business and move away from renewables, as part of a strategy overhaul under O’Neill.
Source: northwaleschronicle.co.uk
