What was BP's second-quarter underlying replacement cost profit, and how does it compare to the same period last year?

BP's second-quarter underlying replacement cost profit was $5.73 billion, which is more than double its profit from a year ago. This figure also exceeded analyst expectations as reflected in a company-provided poll.

What strategic shift has BP made regarding its low-carbon and renewables businesses, and what recent actions illustrate this shift?

BP has abandoned its aggressive expansion strategy in renewables — a plan it pursued after 2022 but officially scrapped in 2025 — and refocused on oil and gas. As part of this reversal, BP has written off billions from its low-carbon businesses, launched a process to sell its U.S. biogas business Archaea (acquired in 2022 for $4.1 billion), completed the sale of its Gelsenkirchen refinery, agreed to sell its retail business in Austria, and announced its intention to sell its North Sea business in the UK.

BP's Second-Quarter Profit More Than Doubles from a Year Ago

Aug 3, 2026

BP posted a second-quarter underlying profit of $5.73 billion, doubling year-over-year amid rising oil and gas prices. The company is divesting assets including its U.S. biogas business and refineries to refocus on core oil and gas operations.

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BP's Second-Quarter Profit More Than Doubles from a Year Ago

BP's Second-Quarter Profit More Than Doubles from a Year Ago

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