The company reported a net profit of $9.3 billion a threefold increase from the same three-month period last year following a $20.4-billion loss in the first quarter.
BP is the latest energy firm to post bumper earnings as oil and gas prices have soared following Russia’s invasion of Ukraine.
British rival Shell reported last week a fivefold surge in second-quarter profit to $18 billion while France’s TotalEnergies raked in $6 billion over the same period.
BP said in its earnings statement that it expects oil prices “to remain elevated in the third quarter due to ongoing disruption to Russian supply, reduced levels of spare capacity and with inventory levels significantly below the five year average”.
