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
Related posts:
Is NextEra Energy Stock a Buy?
Deal Nears to Let U.S. Inspect Chinese Company Audit Records in Hong Kong
Already worth $19 billion, Ray Dalio will be paid ‘billions’ more after retiring from Bridgewater: r...
Apple Hires 31-Year Ford Veteran to Ramp Up Electric-Car Work
Why a record number of container ships are chilling off the California coast