BP reports Q2 underlying RC profit per ADS $1.00 vs 89c last year

Underlying replacement cost profit for the quarter was $2.8B vs $2.7B last quarter. CEO Murray Auchincloss said, “Our businesses continue to operate safely and efficiently. We are driving focus across the business and reducing costs, all while building momentum in our drive to 2025. Our recent go-ahead of the Kaskida development in the Gulf of Mexico business, and decision to take full ownership of bp Bunge Bioenergia while scaling back plans for new biofuels projects, demonstrate our commitment to delivering as a simpler, more focused and higher value company. This all supports growing returns for shareholders, as we have announced today.”