BP increased its dividend on Tuesday as its second-quarter profits beat analysts’ expectations.
Adjusted profits at the energy major were $2.4bn from April to June, a 15 per cent fall from last year but ahead of a consensus forecast of $1.82bn. BP maintained a $750mn quarterly share buyback.
Murray Auchincloss, chief executive, said the company had a strong quarter “operationally and strategically” despite a 10 per cent fall in the oil price from the first three months of the year.
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