BP profits hit ‘obscene’ 18-year high as Iran war drives up oil refining margins

Oil giant comes under fire from climate campaigners, as its earnings reach $8. 46bn while ‘innocent civilians suffer’ BP’s quarterly profits have been labelled “obscene” after they hit an 18-year high of $8. 46bn (£6.

3bn), as the war in the Middle East drove up oil and gas prices. The energy company hailed a “banner quarter” on Friday, with its underlying ​replacement ⁠cost profit – a key measure of its income – almost quadrupling in the three…