BP has announced profit of $4.33bn for the second quarter of 2026 (Q2 2026), a 124.35% increase from the $1.93bn recorded in the same quarter of the previous year.
Profit attributable to bp shareholders for the reported quarter ended 30 June 2026 was $3.91bn, representing a 139.88% rise from $1.63bn the previous year.
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Operating cash flow for the quarter reached $10.9bn, 73.02% higher than the $6.3bn recorded in the same period of 2025.
Total revenues and other income for Q2 2026 amounted to $70.11bn, rising by 47.03% from $47.68bn in Q2 2025.
The company’s total adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for Q2 2026 was $3.31bn, reflecting a 15.33% increase compared to $2.87bn in the prior year.
For the first half of 2026 (H1 2026), bp’s profit stood at $8.54bn, up by 193.46% from $2.91bn in H1 2025.
Profit attributable to shareholders was $7.75bn, a 233.19% increase from $2.32bn in the previous year.
Operating cash flow for H1 2026 reached $13.7bn, a 50.55% rise compared to $9.1bn in the same period of 2025.
Total adjusted EBITDA for H1 2026 was $5.83bn, up by 15.9% from $5.03bn in H1 2025.
The company reported a replacement cost profit before interest and tax of $14.14bn for H1 2026, a 59.89% increase from $8.85bn in the same period of 2025.
In Q2 2026, bp’s upstream plant reliability was recorded at 92.4%, a decrease from 95.7% in Q1.
The company’s reported production stood at 2.2 million barrels of oil equivalent per day (mboe/d), down from 2.3mboe/d in the previous quarter.
Refining availability was at 94.7%, compared to 96.3% in Q1 2026.
BP recently reached an agreement to divest its Austrian retail operations and has agreed on terms to introduce partners into the Kirkuk project.
Additionally, bp has completed the sale of the Gelsenkirchen refinery and initiated processes to market its North Sea business and Archaea Energy. The combined total of net debt, hybrid bonds and securities, leases and Gulf of Mexico settlement liabilities has been reduced by $6.9bn.
BP CEO Meg O’Neill said: “This is my first full quarter at bp, and it has been marked by one of the most disrupted periods in the global energy market. Through that, bp’s team has stepped up, working tirelessly to keep energy flowing for our customers.
“We made good progress strengthening bp’s balance sheet. We also took steps to simplify and strengthen bp. In recent weeks, we sold our Gelsenkirchen refinery, agreed to sell our retail business in Austria and announced our intention to sell our North Sea business in the UK.”
BP anticipates that reported upstream production for Q3 2026 will range between 2,100mboe/d and 2,250mboe/d. This outlook reflects ongoing disruptions in the Middle East, reduced equity interest in Latin America and potential seasonal weather impacts in the Gulf of Mexico.
Refining margins are projected to remain elevated but sensitive to supply costs and market conditions.
For the full year 2026, bp forecasts reported upstream production of between 2,180mboe/d and 2,270mboe/d, reflecting the impact of disruptions in the Middle East and divestments such as the Culzean gas field in the UK North Sea.
The underlying effective tax rate for 2026 is anticipated to be 35–40%, influenced by price volatility and geographical profit distribution.
