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BP has tripled its underlying profits in the last quarter, as it benefitted from soaring energy price.
The energy giant has reported underlying replacement cost profit of $8.45bn (£7bn) in April-June, up from $2.8bn in the second quarter of 2021.
‘BP will continue to reap the reward of elevated oil prices in the second quarter with healthy profits expected.
‘BP has promised further share buybacks to the tune of $2.5billion (£2.1billion) in the second quarter, to return a portion of surplus cash flow to investors, though no shareholder returns are guaranteed.’
