BP PLCBP's net profit more than doubled, beating expectations, and it raised dividend.
BP said Tuesday that its net profit more than doubled in the second quarter to $3.91 billion, up from $1.62 billion a year earlier, as the Middle East war roiled oil and gas markets. Total revenue increased 47 percent to $70 billion, while a core profit measure that strips out certain items more than doubled to $5.7 billion, outperforming expectations. The five biggest Western energy majors—BP, Chevron, ExxonMobil, Shell and TotalEnergies—reported combined net profits of almost $47 billion in the quarter. BP also raised its quarterly dividend by four percent and announced plans to sell its North Sea business and its US biogas business Archaea.
BP PLCBP's net profit more than doubled, beating expectations, and it raised dividend.
Shell plcHigher oil prices due to Middle East war boost Shell's earnings.
Exxon Mobil CorpHigher oil prices due to Middle East war boost ExxonMobil's earnings.
Chevron CorpHigher oil prices due to Middle East war boost Chevron's earnings.
TotalEnergies SEHigher oil prices due to Middle East war boost TotalEnergies' earnings.