LONDON (Reuters) – BP on Tuesday reported a second quarter profit of $8.45 billion, its highest in 14 years, as soaring refining margins and energy prices helped it boost its dividend by 10%.
BP’s underlying replacement cost profit, the company’s definition of net earnings, reached $8.45 billion in the second quarter, the strongest since 2008 and far exceeding analysts’ expectations for a $6.8 billion profit.
That compares with a $6.25 billion profit in the first three months of 2022 and one of $2.8 billion a year earlier.
(Reporting by Ron Bousso and Shadia Nasralla)
