BP Plc Q2 Underlying RC Profit Rises YoY

(RTTNews) - BP Plc (BP.L, BP_UN.TO, BP) reported that its second quarter underlying RC profit increased to $8.45 billion from $2.80 billion, last year. Underlying RC profit per ADS was $2.61 compared to $0.83.

Profit before tax increased to $14.06 billion from $5.14 billion. Earnings per ADS was $2.83 compared to $0.92.

Second quarter sales and other operating revenues increased to $67.87 billion from $36.47 billion. Total revenues and other income was $69.51 billion compared to $37.60 billion.

Looking ahead, the company expects third-quarter upstream production on a reported basis to be broadly flat compared with the second-quarter 2022.

For 2022, the company continues to expect reported upstream production to be broadly flat compared with 2021. On an underlying basis, the company expects upstream production to be slightly higher. bp continues to expect capital expenditure to be in a range of $14-15 billion for 2022.

bp has announced a 10% increase in its quarterly dividend to 6.006 cents per ordinary share. On an average, bp continues to expect to have capacity for an annual increase in the dividend per ordinary share of around 4% through 2025.

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