Reported 3 months ago
BP, the UK oil giant, announced plans to return $7 billion to shareholders through stock buybacks this year, despite a nearly 30% drop in profits in the first half of 2024. The company reported a profit of $5.5 billion, down from $7.6 billion last year, primarily due to lower earnings from its refining operations. BP's second-quarter profit slightly exceeded expectations, leading to a rise in its stock price. Despite this, critics argue that BP's focus is still too heavily on high-carbon activities at the expense of climate commitments.
Source: YAHOO