British Petroleum (BP.US) exceeded expectations in Q2 profits, the new chairman will lead the reform and initiate a comprehensive review of the business.

According to the Finance and Economics APP, following a period of high volatility in global oil and gas prices, British Petroleum (BP.US) announced better-than-expected second quarter earnings on Tuesday. The energy giant, which is currently in a period of adjustment, reported a core replacement cost profit (used as a substitute indicator for net profit) of $2.35 billion for the three months ending in June, well above the analyst consensus expectation of $1.81 billion compiled by the London Stock Exchange Group (LSEG). For comparison, BP's net profit in the second quarter of last year was $2.76 billion, and in the first quarter of 2025, it was $1.38 billion.