BP's Q2 result exceeds expectations, showing a few green investments

British oil and gas giant BP is raking in money due to rising oil prices and investments in new fields. The company has also increased its green investments, but to a far lower degree than some of its competitors.

Photo: Aker BP ASA, Pressefoto

British oil company BP exits this year's second quarter with an adjusted net profit at USD 2.82 billion, shows the company's Q2 report published Tuesday morning. This result has grown by more than four times since the same period last year, in which BP showed an adjusted net profit at USD 684 million and is attributable to various factors including new projects.

"We continue to make steady progress against our strategy and plans, delivering another quarter of strong operational and financial performance. We brought two more major projects online, high-graded our portfolio through acquisitions such as BHP’s US onshore assets and invested in a low-carbon future with the creation of BP Chargemaster. Given this momentum and the strength of our financial frame, we are increasing our dividend for the first time in almost four years. This reflects not just our commitment to growing distributions to shareholders but our confidence in the future," writes BP Group Chief Executive Bob Dudley in the interim report.

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