BP (BP) has released an update.
BP p.l.c. has announced robust financial results for the second quarter of 2024, including a strong operating cash flow of $8.1 billion and a reduction in net debt to $22.6 billion. The company has shown confidence in their financial health with a 10% increase in dividend and a commitment to a $3.5 billion share buyback for the second half of the year. Despite a reported loss for the quarter due to inventory holding losses and adjusting items, the underlying replacement cost profit stood at $2.8 billion, reinforcing BP’s focus on delivering value for shareholders.
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