Britain's BP on Tuesday reported a net profit of $5.7 billion for the second quarter, comfortably beating analyst expectations:
The result comes shortly after U.S. President Donald Trump lashed out at Big Oil for making "too much money" off higher fuel prices amid the Iran war:
"What BP is doing is making sure that we are focused on the things we can do to try to help address the situation," BP CEO Meg O'Neill told CNBC:
Key highlights from Q2
- BP increased its dividend by 4% to 8.66 cents per ordinary share:
- Operating cash flow came in at $10.9 billion:
- Net debt came in at $22.25 billion at the end of the second quarter:
BP also announced it had launched the process to market Archaea Energy for a potential sale:
Additionally, BP completed the sale of its Gelsenkirchen refinery and related businesses to investment firm Klesch Group:
