# BP profits soar to four-year high after boost from Iran war

By Simon Francis — 2026-08-04

Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “The price shock profiteers have banked more billions from a crisis that has created real hardship for millions of households.

“And now BP’s next move is to look to cash in and walk away from a North Sea where 90 per cent of commercially viable fossil fuels have been extracted and the profits banked.

“The lesson is not to hand yet more tax breaks to an industry posting billions in profit every quarter, but to use Windfall Tax receipts to clear the record energy debt households built up during the crisis.

“As bills remain far above pre-crisis levels, the route out of crisis means breaking the link between electricity prices and volatile gas, reforming electricity prices and providing support for people to improve their homes.

“In the meantime, we ask Ministers to also provide more support by further expanding the Warm Homes Discount and reforming Cold Weather Payments.”

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