British oil and gas major bp plc reported a replacement cost profit in the second quarter, compared to a loss last year. The company also announced an interim dividend increase of 4% and a $750 million share buyback. For the third quarter, bp expects slightly lower reported upstream production. In the second quarter, bp’s RC profit was $2.04 billion, with an underlying RC profit of $2.35 billion. Net profit attributable to bp shareholders was $1.63 billion. Adjusted EBITDA grew to $9.97 billion, while total revenues and other income dropped to $47.68 billion.

Source: RTTNews

Read more at Nasdaq: BP Plc Turns To RC Profit In Q2, Beats Market; Plans $750 Mln Share Buyback