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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: BP profits surge to £7bn in Q2, Brent crude holds $100

British Petroleum Oil

BP today racked up profits of $8.5 billion (£6.95 billion), up more than a third on the previous quarter after a continued surge in oil prices.

The energy giant is to use surplus cash to buy back another $3.5 billion (£2.9 billion) of its shares, while it has hiked its dividend for the quarter by 10%.

The results come with the Brent crude price back at $100 a barrel, having fallen yesterday after manufacturing data from China and elsewhere heightened fears over weaker demand.

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