Oil giants face backlash as Iran conflict fuels multi-billion-pound profits
Both BP and Shell have posted bumper earnings following a rise in global oil prices triggered by disruption to supplies during the Iran conflict. BP reported quarterly profits of £4.2bn, up from £1.7bn a year earlier and well ahead of analysts’ expectations. The results follow another strong quarter, underlining how geopolitical instability has translated into soaring returns for the company.
- ▪Both BP and Shell have posted bumper earnings following a rise in global oil prices triggered by disruption to supplies during the Iran conflict.
- ▪BP reported quarterly profits of £4.2bn, up from £1.7bn a year earlier and well ahead of analysts’ expectations.
- ▪The results follow another strong quarter, underlining how geopolitical instability has translated into soaring returns for the company.
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| Original publisher | Left Foot Forward: Leading the UK's progressive debate |
| Canonical URL | https://leftfootforward.org/2026/08/oil-giants-face-backlash-as-conflict-fuels-multi-billion-pound-profits/ |
| Publication time | Mon, 10 Aug 2026 15:05:46 +0000 |
| Retrieval time | 2026-08-10T16:15:47.885Z |
| Last seen | 2026-08-10T16:15:48.400Z |
| Headline source | Publisher (no WeSearch rewrite) |
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| Summary source text | contentText |
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| Publisher visit | Yes — open original |
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Opening excerpt (first ~120 words) tap to expand
News Oil giants face backlash as Iran conflict fuels multi-billion-pound profits "We're running out of words to describe the obscenity of these numbers.” Gabrielle Pickard-Whitehead · 4 days ago 2 mins read TweetShareWhatsAppMail Oil giants are facing renewed criticism after reporting billions of pounds in profits, with campaigners accusing the industry of profiting from conflict while the climate crisis intensifies. Both BP and Shell have posted bumper earnings following a rise in global oil prices triggered by disruption to supplies during the Iran conflict. BP reported quarterly profits of £4.2bn, up from £1.7bn a year earlier and well ahead of analysts’ expectations.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Left Foot Forward: Leading the UK's progressive debate.
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