00:00The five biggest Western energy majors, BP, Chevron, ExxonMobil, Shell, and Total Energies
00:08reported combined net profits of almost €40.60 billion in the second quarter
00:14as earnings multiplied amid the U.S.-Iran conflict.
00:19For BP alone, total revenue increased 47% to €60.43 billion in the second quarter
00:28from a year earlier as the conflict disrupted global supplies of fossil fuels.
00:34As fossil fuel prices soared year-on-year, profit after tax jumped to €3.38 billion
00:41in the April-June period from €1.4 billion in the second quarter of 2025.
00:48According to a BP earnings statement, the latest reporting period has been
00:53marked by one of the most disrupted periods in the global energy market.
00:58Energy majors around the globe are enjoying soaring profits from their trading operations
01:04as oil and gas futures swing between sharp gains and losses on the latest headlines
01:10linked to the Middle East conflict.
01:12BP's performance had generally lagged behind that of its rivals in recent years
01:17and slashed clean energy investment as the group pivots back towards its more profitable oil and gas business.
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