War pays… BP billions

https://morningstaronline.co.uk/article/war-pays-bp-billions

Iran conflict sends BP profits skyrocketing and takes Euro fuel giants’ gains to £66.4bn

DONALD TRUMP’S Iran war has sent BP’s profits soaring to £6.31 billion in just three months while one in 10 languish in fuel poverty and diesel costs cripple the economy. 

The latest quarterly profits represent a staggering 282 per cent rise on the £1.65bn it coined-in over the same period in 2025, as the once state-owned business reaps the rewards of a war that has seen supplies hit by blockages in the Straits of Hormuz, and households face a 27 per cent rise in fuel bills from January.

The figures come hot on the heels of rivals Shell posting profits of over £8bn in the same period, and bring BP’s total haul to an eye-watering £13bn in the last nine months alone.

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Pointing out that the latest figures from Europe’s oil and gas giants bring total profiteering to a staggering £66.4bn this year, Global Witness, campaign group spokesman Jonathan Noronha-Gant said: “It is obscene that polluters are continuing to cash in on the fallout of the war in Iran, making more bumper profits from spiralling oil prices while innocent civilians suffer.

“These massive profits come as ordinary people across Europe are struggling with the rising cost of living, with many struggling to afford to heat their homes as winter arrives.

“Oil giants can and should pay much more for the damage they are doing to our planet.”

Echoing the call for tougher taxation, 350.org head of global campaigns Clemence Dubois hit out: “The climate crisis is not an abstract future threat. 

“People are facing deadly heat, destroyed livelihoods and growing insecurity now. 

“Governments are being forced to find money to protect their populations, while fossil fuel companies are forecast to make extraordinary profits from the same energy system that leaves people vulnerable.”

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See the original article at https://morningstaronline.co.uk/article/war-pays-bp-billions