17:26 - 2.08.2022

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August 2, Fineko/abc.az. UK’s energy giant British Petroleum has announced its highest profit in 14 years in the 2nd quarter.

BP's net profit for Q2 rose to $8.45 bn, exceeding all analysts' estimates, ABC.AZ reports. This is the highest profit since 2008. It was noted that this indicator was supported by an increase in oil prices, as well as a strong refining reserve and oil trade.

The company announced it would buy back $3.8 bn worth of shares over the next three months after buying $3.5 bn worth of shares in the 1st half of the year.

BP also shared a forecast that prices will continue to remain high in the 3rd quarter of the year due to difficulties with supplies from Russia and relatively low inventories.