{"id":103040,"date":"2026-04-28T06:10:47","date_gmt":"2026-04-28T06:10:47","guid":{"rendered":"https:\/\/christiancorner.us\/index.php\/2026\/04\/28\/oil-major-bp-beats-profit-expectations-as-fuel-prices-rise-due-to-iran-war-2\/"},"modified":"2026-04-28T06:18:44","modified_gmt":"2026-04-28T06:18:44","slug":"oil-major-bp-beats-profit-expectations-as-fuel-prices-rise-due-to-iran-war-2","status":"publish","type":"post","link":"https:\/\/christiancorner.us\/index.php\/2026\/04\/28\/oil-major-bp-beats-profit-expectations-as-fuel-prices-rise-due-to-iran-war-2\/","title":{"rendered":"Oil major BP beats profit expectations as fuel prices rise due to Iran war"},"content":{"rendered":"<p>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108260677\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>BP refinery in Lingen, Germany (aerial view from drone).<\/p>\n<p>Picture Alliance | Picture Alliance | getty images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>British energy chief <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">BP<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>    It reported stronger-than-expected first-quarter profit on Tuesday after oil and gas prices rose due to the Middle East conflict.<\/p>\n<p>The oil giant posted underlying replacement cost profit, which is used as a proxy for net profit, of $3.2 billion for the first three months of the year. It beat analyst expectations of $2.63 billion, according to the LSEG-compiled consensus.<\/p>\n<p>The company said the results reflected &#8220;exceptional&#8221; oil trading contributions and strong midstream performance. <\/p>\n<p>BP&#8217;s net profit stood at $1.38 billion in the same period last year and $1.54 billion in the last three months of 2025.<\/p>\n<p>This comes as oil and gas companies have experienced a significant rise in share prices as fossil fuel prices have surged since the US-Israeli war against Iran began on February 28.<\/p>\n<p>The ongoing and serious disruption in the strategically important Strait of Hormuz has resulted in what the International Energy Agency has described as the greatest energy security threat in history.<\/p>\n<p>BP&#8217;s shares have surged over the past 12 months, with the company becoming the subject of intense takeover speculation after years of relative underperformance.<\/p>\n<p>The London-listed stock&#8217;s rally has continued this year. Shares rise more than 32% in 2026, meaning BP is second only to France <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\">total energy<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>    One of the top five oil supermajors. <\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108296724\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108296724\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000410795\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>BP&#8217;s board faced a shareholder revolt at its annual general meeting last week after a tense clash with investors over corporate governance and climate transparency.<\/p>\n<p>The company failed to gain majority shareholder approval on two highly anticipated proposals that would have allowed online-only AGMs and eliminated two company-specific climate disclosure obligations. <\/p>\n<p>It formed part of a wider investor revolt at the AGM, resulting in weaker-than-usual support for BP chairman Albert Manifold and stronger support for a motion calling on the energy major to justify its capital discipline on oil and gas investments.<\/p>\n<p><em><strong>This is breaking news. Please refresh for updates.<\/strong><\/em><\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">Choose CNBC as your favorite source on Google and never miss a moment of the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BP refinery in Lingen, Germany (aerial view from drone). Picture Alliance | Picture Alliance | getty images British energy chief BP It reported stronger-than-expected first-quarter profit on Tuesday after oil and gas prices rose due to the Middle East conflict. The oil giant posted underlying replacement cost profit, which is used as a proxy for<\/p>\n","protected":false},"author":1,"featured_media":103048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[1579,1051,4792,1226,312,2335,415,72,2404,416,367],"class_list":{"0":"post-103040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bible-news","8":"tag-beats","9":"tag-due","10":"tag-expectations","11":"tag-fuel","12":"tag-iran","13":"tag-major","14":"tag-oil","15":"tag-prices","16":"tag-profit","17":"tag-rise","18":"tag-war"},"_links":{"self":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/103040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/comments?post=103040"}],"version-history":[{"count":1,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/103040\/revisions"}],"predecessor-version":[{"id":103049,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/103040\/revisions\/103049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media\/103048"}],"wp:attachment":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media?parent=103040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/categories?post=103040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/tags?post=103040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}