BP's profit doubles as Iran
Photo: Frank Augstein AP/TT

BP's profit doubles as Iran war boosts oil trading

British energy group BP reported an adjusted net profit of $3.2 billion for the first quarter of the year. This was better than expected.

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In the first quarter of last year, profit was $1.4 billion, and analysts had on average expected it to rise, but only to $2.6 billion, according to Bloomberg.

Behind the profit increase is higher revenue from oil trading, as oil prices rose sharply amid the Iran war.

BP has also escaped major negative effects on oil production from the Iran war because its operations around the Persian Gulf are limited.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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