In the period from April to June, BP achieved an adjusted net result of 2.35 billion US dollars - well above the figure forecast by LSEG forecast of 1.81 billion US dollars. By comparison, the result in the previous quarter was USD 1.38 billion and USD 2.76 billion in the same period last year.
The operating cash flow amounted to USD 6.27 billion, which represents a significant increase compared to the first quarter. Reported net profit amounted to USD 1.63 billion, a sharp increase on the USD 0.7 billion reported in the first quarter.
The British group announced that it would increase its dividend for the second quarter to 8.32 US cents per ordinary share - an increase of 4 percent compared to the previous quarter. BP is also launching a new share buyback program worth 750 million US dollars, which should be completed before the Q3 results are announced.
BP also reiterated its long-term strategy of distributing 30-40 percent of operating cash flow to shareholders through a combination of dividends and buybacks.
