BP has reported a second-quarter profit of £6.9bn - its highest in 14 years - at a time when consumer fuel prices have been at record highs
BP has reported a second-quarter profit of £6.9bn - its highest in 14 years - at a time when consumer fuel prices have been at record highs.
BP's underlying replacement cost profit, the company's definition of net earnings, was the strongest since 2008 and far exceeded analysts' expectations of £5.6bn .The oil and gas giant increased its dividend by 10% to 6.006 cents per share - more than its previous guidance of a 4% annual increase. But it did take a £19.9bn hit after ditching its near-20% stake in Russian oil producer Rosneft in response to the Ukraine war.BP chief executive Bernard Looney said:"Today's results show that BP continues to perform while transforming.
"Our people have continued to work hard throughout the quarter helping to solve the energy trilemma - secure, affordable and lower carbon energy.
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BP reports highest quarterly profit in 14 years\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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