# BP reported first-quarter net profit of $3.2 billion on Tuesday, more than double last year’s figure.

*business · news · 2026-04-30 · Devdiscourse*

## Key points

- BP, Shell, and TotalEnergies' Q1 profits surged due to exceptional oil trading amid Iran war disruptions.
- BP trades about 12 million barrels per day, 10 times its own upstream production.
- TotalEnergies' refining and chemicals segment profit more than quintupled year-on-year to $1.6 billion.
- The Iran conflict trapped 13% of global oil supply in the Gulf, creating massive arbitrage opportunities.
- U.S. oil majors like Exxon and Chevron largely avoid large-scale trading, unlike European competitors.

**Companies:** BP, Shell, TotalEnergies
**Countries:** Iran, United Kingdom, France, Qatar, Iraq, United Arab Emirates, United States

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/headlines/3891574-roi-trader-or-driller-iran-war-exposes-big-oils-transatlantic-divide-bousso)

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