BP, Buoyed by Resurgent Oil Price, to Boost Investor Returns

LONDON— BP PLC benefited from resurgent oil prices in the third quarter and said it would buy back more shares, though the energy giant’s profit was wiped out by an accounting issue.

The London-listed company said Tuesday that beyond higher commodity prices, its results were boosted by gains in its refining business and in natural-gas trading, and that it would use some of its surplus cash to buy back $1.25 billion of stock in the coming months.

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