BP Q2 RC Profit Edges Down, Sales Weak On Lower Oil Prices - Quick Facts

(RTTNews) - BP plc (BP.L, BP_UN.TO, BP) reported Tuesday that its second-quarter replacement cost profit or RC profit edged down to $1.775 billion from last year's $1.789 billion.

RC profit per ordinary share was 8.72 cents, down from 8.96 cents last year. RC profit per ADS was $0.52, compared to $0.54 a year ago.

Underlying RC profit was $2.81 billion, nearly same as last year's $2.82 billion. The latest results largely reflected continued good operating performance, offset by lower oil prices.

In the second quarter, profit attributable to BP shareholders fell to $1.82 billion from prior year's $2.80 billion.

Sales and other operating revenues declined to $72.68 billion from last year's $75.44 billion. Reported oil and gas production for the quarter averaged 3.8 million barrels a day of oil equivalent, 4% higher than a year earlier.

Further, BP announced a quarterly dividend of 10.25 cents per ordinary share or $0.615 per ADS, which is expected to be paid on September 20.

The corresponding amount in sterling will be announced on September 10.

Looking ahead in the Upstream, the company expects third-quarter 2019 reported production to be lower sequentially, reflecting continued seasonal turnaround and maintenance activities.