BP profits more than double to $5.7 billion in second quarter
BP reported a surge in second-quarter profits to $5.7 billion, more than double the previous quarter, driven by rising oil prices amid global tensions.
The Full Story
A plain summary built from the channels that reported this story.
BP has reported a surge in second-quarter profits to $5.7 billion, more than double the previous quarter, as oil prices jumped and trading became more volatile. The energy giant is the latest to benefit from rising crude costs linked to global tensions, particularly the US-Iran conflict.
The company's profit for the three months to June was 144% higher than the same period last year. It follows similar bumper results from other oil majors: Shell posted $10 billion, Chevron and ExxonMobil reported even higher figures, and Saudi Aramco led the pack with $33 billion. All are quarterly numbers, not full-year earnings.
The windfall has drawn sharp criticism from environmental groups, who called the profits "obscene and scandalous" and accused the oil companies of failing to invest enough in renewable energy such as solar and wind. But the criticism has also come from an unexpected quarter: former President Donald Trump, who usually supports big oil, complained that the companies were making "too much money."
Trump, in remarks reported by Channel 4 News, said: "They made too much money. Too much money. Chevron, too much money. ExxonMobil, too much. Too much money." He urged the firms to return some of their profits to consumers by cutting retail petrol prices. The comments come as US gasoline prices have drifted back above $4 a gallon, after initially spiking when the conflict began and then falling on hopes of peace.
The irony was not lost on analysts: Trump himself created the conditions for the profit surge by escalating tensions with Iran. The timing of any resolution to the conflict remains uncertain, leaving oil prices and company earnings exposed to further volatility.
On screen
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Key Claims
Claims reported during this story's coverage, mapped by channel. Ordered by how many channels carried each claim.
| Claim | Channel 4 |
|---|---|
| Donald Trump said oil companies should cut retail prices because they made too much money. | |
| Oil companies reported huge profits, with BP at $5.7 billion, Shell at $10 billion, Chevron and ExxonMobil higher, and Saudi Aramco at $33 billion. |
Channel Perspectives
What each channel focused on, with key quotes.
Channel 4 News focused on the scale of BP's profit surge, linking it directly to the US-Iran war and the resulting volatility in oil markets. The report highlighted the unusual criticism from Donald Trump, who typically supports big oil, and included environmental groups' condemnation. The tone was critical, noting the irony that Trump's own policies helped create the conditions for the profits. The segment also used a graph to show US petrol price trends, tying the story to consumer impact.
- “So BP has more than doubled its profits in the second quarter of the year as oil prices have jumped and trading has become far more volatile.”
- “President Trump... complained today that they were making far too much money.”
- “the criticism has been swift from environmental groups. They have called these figures obscene and scandalous”
Broadcast Timeline
News broadcasts tracked for this story, in time order.