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ENERGY

Oil giant BP returns to profit in second quarter


British energy group BP on Tuesday posted a net profit for the second quarter, in contrast to energy rivals mostly reporting losses, as lower exceptional charges offset falling oil prices.

Profit after tax came in at $1.63 billion in the April-June period, compared with a net loss of $129 million in the second quarter of 2024, BP said in an earnings statement.

British energy group BP on Tuesday posted a net profit for the second quarter, in contrast to energy rivals mostly reporting losses, as lower exceptional charges offset falling oil prices.

Profit after tax came in at $1.63 billion in the April-June period, compared with a net loss of $129 million in the second quarter of 2024, BP said in an earnings statement.