First-quarter profits of $3.2bn prompt outrage from campaigners, who say figures come at expense of consumers
Business live – latest updates
BP has provoked outrage by revealing its profits more than doubled in the first quarter of this year after its oil traders reaped the benefit of the war in Iran.
The energy company capitalised on a surge in global oil market prices to report better than expected profits of $3.2bn (£2.4bn) for the first quarter, more than double the $1.38bn it made in the same period last year.
The company credited “exceptional oil trading” for its highest quarterly profit since 2023, triggering an immediate backlash from campaign groups and calls for tougher windfall taxes on fossil fuel companies.
