We said that oil companies are happy with rising crude oil prices, as seen in the latest results from Repsol, Cepsa, TotalEnergies, Shell, Equinor, Eni, Pemex, ExxonMobil, Chevron and Petrobras. Now the numbers of BPwhich earned 197% more and increased revenue (+85%) between April and June, and rose on the stock market 4% by increasing the dividend.
The British oil company recorded its best second trimester since 2008, with a net profit awarded 9,033 million euros, and tripled its adjusted underlying result for replacement costs, up to 8.247 million. For its part, revenues jumped 85% to 67.826 million.
The figures “show that BP continues to operate while transforming (…) We do this by providing the oil and gas the world needs today, while investing to accelerate the energy transition”, says its CEO , Bernard Looney
Good news in the second quarter, after BP stumbled in the first due to its departure from Russia -leaving 19.75% of the capital of Rosneft and other joint ventures-, when it registered a few losses of more than 19.https://news.google.com/300 million euros. A setback that was noticed in the figures for the first half, where losses of 10.858 million were recorded, far from the 7.505 million that it garnered a year earlier due to the negative impact of the exit from Russia (30.055 million). Admittedly, between January and June, the underlying result adjusted for replacement costs increased by 9.044 million, standing at 14.341 million; The Income they increased by 63%, to 117,807 million; Yes net debt is down 30%up to 22.264 million.
Figures that “show that BP continues to operate while transforming (…) We do this by providing the oil and gas the world needs today, while at the same time investing to accelerate the energy transition “, said its CEO, Bernard Looney. And given the good numbers, a 10% increase in quarterly dividend to reflect the strong underlying performance and cash generation, and the plan is to increase the dividend by around 4% per year until 2025 and maintain the commitment to use 60% of excess cash flow in share buybacks and the remaining 40% in strengthening your balance.
BP has announced the appointment of Amanda Blanc, CEO of UK insurer Aviva, as a non-executive director effective September 1, and oil company chairman Helge Lund welcomes her
At the same time, BP announced the appointment of amanda whiteCEO of British insurer Avivaas non-executive director From September 1st. Blanc is part of the UK transition plan task force, which was set up by the outgoing Prime Minister, Boris Johnsonto develop standards for climate transition plans for companies in the country. Helge Lund, Chairman of BP, said, “On behalf of the Board of Directors, I am delighted to welcome Amanda to BP. He has a long history of running insurance businesses in the UK and Europe and deep connections in the UK business and investment communities, combined with a strong interest in the energy transition.
And by the way, the barrel of Brent (reference in Europe) has remained well above 100 dollars throughout these months, although on Tuesday it was at this threshold.