Reported 3 months ago
BP Plc has reaffirmed its commitment to share buybacks and raised its dividend by 10% due to strong second-quarter earnings from crude oil production, which compensated for weaknesses in other sectors. The company plans to invest in the Kaskida oil project in the U.S. Gulf of Mexico as it navigates the clean energy transition while expecting fossil fuel production to rise this year. BP's strong operating cash flow and reduced net debt have allowed it to support shareholder returns, contributing to a share price increase.
Source: YAHOO