BP: Between Record Profits and Internal Turmoil
BP is, of course, benefiting from the war in Iran and the resulting rise in oil and gas prices. In the first quarter of 2026, the group doubled its adjusted profit to USD 3.2 billion. Refineries operated at 96% capacity, a level not seen in years, and oil trading delivered exceptional results. Operating cash flow came in at USD 5.2 billion, even as the debt pile grew to USD 25.3 billion. The figure…
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British energy giant BP has sacked its chairman, Albert Manifold, over what it said were "serious concerns about important management standards, oversight