Reuters
BP boosts dividend after profit hits 14-year high
BP’s second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production. BP shares were up 3.5% by 0925 GMT, their highest since June, strongly outperforming the broader European energy index which was up 0.5%. Looney, who took office in 2020 with a vow to rapidly shift BP away from fossil fuels to renewables, said that the company will increase its spending on new oil and gas by $500 million in response to the global supply crunch.
Source: finance.yahoo.com
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