BP Raises Dividend, Buybacks as Higher Prices Boost Profits

BP's profit reached its highest since 2008, driven by strong trading and high refining margins. The company plans to repurchase $3.5 billion in shares, adding to the $3.8 billion already bought back. BP's buybacks and dividend increases outpaced peers, offering better returns. Despite exiting its Rosneft stake due to geopolitical issues, BP maintains a strong financial position. The company is cautious with capital expenditure, focusing on UK investments amid political concerns over energy prices.

What factor contributed to BP's high profit margins in the recent quarter?

• New technology implementation

• High refining margins due to capacity shortages

• Reduced operational costs

• Increased oil production

How does BP's recent dividend increase compare to investor expectations?

• It exceeded expectations

• It matched expectations

• It was lower than expected

• It was not changed

What major challenge is BP facing due to geopolitical events?

• Increased competition from new entrants

• Exit from Rosneft due to the Ukraine invasion

• Decline in global oil demand

• Regulatory changes in the US

What is BP's approach to capital expenditure with the recent cash influx?

• Significant increase in spending

• Focusing solely on renewable energy

• Maintaining a tight expenditure plan

• Reducing investments in the UK

How is BP addressing the political issue of high energy prices?

• By exiting the UK market

• By lobbying against windfall taxes

• By increasing investments in the UK

• By reducing energy prices