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 factors contributed to BP's profit margins being exceptionally high in the past quarter?

How does BP's recent increase in buybacks and dividends compare to its peers?

What challenges is BP facing due to its exit from Rosneft?

What are BP's plans regarding capital expenditure in light of its recent financial performance?

How is BP addressing the political backdrop of high energy prices in the UK?