BP hails ‘exceptional’ trading as oil prices soar in Iran war
Citi analysts upgrade profit forecast by 20% to $2.6bn for January to March despite flat oil and gas production Business live – latest updates BP expects to post “exceptional” earnings from its oil trading desk, reaping a windfall from choppy energy markets triggered by the US-Israeli war on Iran. Energy traders are navigating significant market volatility after Tehran’s effective closure of the key strait of Hormuz shipping route.
Meg O’Neill to return to upstream and downstream divisions after oil major’s costly foray into green energy
BP’s new boss has set out plans to reinstate the company structure the fossil fuel supermajor ditched six years ago as part of its failed attempt to reorganise the business to pursue a green agenda.
Meg O’Neill told staff that the 117-year-old company would return to a “simpler, stronger” two-business arrangement including an upstream oil and gas production unit and a downstream business focused on refining and distributing fuels and retail activities.
Coverage from 3 sources
- BP hails ‘exceptional’ trading as oil prices soar in Iran warGuardian - World · Julia Kollewe · Apr 14, 2026, 4:40 PM
- New BP boss plans return to production/distribution structureGuardian - World · Julia Kollewe · Apr 14, 2026, 4:40 PM
- BP’s new boss to reset company structure after failed green forayGuardian - World · Jillian Ambrose and Julia Kollewe · Apr 14, 2026, 4:40 PM
Coverage by lean
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