British energy major BP Plc reported Tuesday a replacement cost or RC profit in its third quarter, compared to a loss last year, on strong growth in sales revenue. Underlying RC profit beat market estimates.
Further, the company announced $2.5 billion share buyback, which is intended to be executed prior to announcing its fourth-quarter results. bp said it continues to expect to deliver share buybacks of around $4.0 billion per annum and have capacity for an annual increase in the dividend per ordinary share of around 4 percent through 2025.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.