Strong Operational and Strategic Performance
BP delivered their plan with upstream reliability over 96%. Five new major projects were brought online, and 10 exploration discoveries were made, including the significant Bumerangue Block discovery in Brazil.
Significant Financial Achievements
Underlying earnings in customer business increased by around 50% compared to the previous year. Expected proceeds from completed or announced divestments reached approximately $3 billion, and $1.7 billion of structural cost reductions have been delivered.
Dividend and Share Buyback Increase
BP announced a dividend per ordinary share of $0.0832, a 4% increase, and a $750 million share buyback for the second quarter.
Refining and Convenience & Mobility Performance
Refining availability was at its highest since 2006, and Convenience & Mobility had its strongest quarter since 2012.