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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