BP books nearly $6 billion in second-quarter profit

• BP posted a second-quarter underlying replacement cost profit of $5.7 billion, largely driven by higher fossil fuel prices.
• The company generated $10.9 billion in operating cash flow while reducing its net debt down to $22.3 billion.
• Management intends to enforce tighter capital discipline and simplify the corporate portfolio by divesting multiple energy assets.

BP (NYSE:BP) reported a second-quarter 2026 underlying replacement cost profit of $5.7 billion, comfortably beating analyst expectations.

This financial result nearly doubled the first-quarter profit, driven by higher realized fossil fuel prices and strong trading results.

The company utilized its $10.9 billion in operating cash flow to increase its dividend and reduce net debt down to $22.3 billion.

Under its new chief executive, the company pledged to simplify its overall portfolio by unwinding prior green energy expansions.

As part of this strategic shift, the business announced plans to sell Archaea Energy and exit its North Sea operations.