BP Raises Dividend, Buybacks as Higher Prices Boost Profits

BP Raises Dividend, Buybacks as Higher Prices Boost Profits

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Business

University

Hard

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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.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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