BP Earnings Surge to $5.7 Billion on Oil Price and Refining Boom

BP more than doubled its profit for the second quarter from a year earlier on the back of higher oil and gas prices and stronger refining margins driven by the shock supply disruption in the Middle East.

BP on Tuesday reported an underlying replacement cost (RC) profit, the closest metric to net profit closely watched by analysts, of $5. 7 billion for the second quarter, up from $3. 2 billion for the previous quarter, and more than doubled from the $2. 35 billion for the same period of 2025.