The BP logo is seen on gasoline pumps at a BP gas station in Manhattan, New York City, U.S.
The logo of BP is seen at a petrol station in Kloten, Switzerland.
Unleaded fuel pumps at BP service station in Sydney, Australia.
LONDON, Aug 4 (Reuters) – BP on Tuesday posted a second-quarter underlying replacement cost profit, its version of net income, of $5.73 billion, more than double that of a year ago and above expectations in a company-provided poll of analysts.Higher oil and gas prices linked to the Middle East conflict have boosted returns for oil majors. BP increased its dividend by 4% to 8.66 cents per ordinary share for the second quarter of 2026.BP said it had launched processes to sell its U.S. biogas business Archaea, which it bought in 2022 for $4.1 billion, as part of its push to expand aggressively in renewables – a strategy BP abandoned in 2025 to refocus on oil and gas. It has written off billions from its low-carbon businesses in recent months.In recent weeks, BP has completed the sale of its Gelsenkirchen refinery, agreed to sell its retail business in Austria and announced its intention to sell its North Sea business in the UK.
Reporting by Stephanie Kelly and Shadia Nasralla, Editing by Louise Heavens.
