BP has reported a second-quarter profit of £6.9bn ($8.45bn) - its highest in 14 years - at a time when consumer fuel prices have been at record highs, APA-Economics reports citing Sky News.
BP's underlying replacement cost profit, the company's definition of net earnings, was the strongest since 2008 and far exceeded analysts' expectations of £5.6bn ($6.8bn).
That compares to a £5.12bn ($6.25bn) profit in the first three months of 2022 and £2.29bn ($2.8bn) a year earlier.
The oil and gas giant increased its dividend by 10% to 6.006 cents per share - more than its previous guidance of a 4% annual increase.
But it did take a £19.9bn ($24.4bn) hit after ditching its near-20% stake in Russian oil producer Rosneft in response to the Ukraine war.
BP chief executive Bernard Looney said: "Today's results show that BP continues to perform while transforming.
"Our people have continued to work hard throughout the quarter, helping to solve the energy trilemma - secure, affordable and lower carbon energy.
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