BP: profit tripled in the 2nd quarter, to 9.26 billion dollars

The British hydrocarbon giant BP published on Tuesday a net profit group share tripled over one year in the second quarter, to 9.26 billion dollars (9.03 billion euros), driven by soaring hydrocarbon prices .

On the other hand, in the first half, BP posted a net loss of 11.13 billion dollars, the group having spent for the first three months of the year an after-tax charge of 24.4 billion dollars following its exit of the Russian Rosneft in the wake of the Russian invasion of Ukraine.

The group expects oil prices to remain high in the third quarter „due to the continued disruption of Russian supplies” but also to reduced reserve capacities and inventory levels „significantly below average over five years,” he said in a statement.

Excluding exceptional items, BP posted a profit of 8.45 billion dollars in the second quarter and 14.7 billion for the first half of the year.

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