BP continued its share buyback program in the second quarter, repurchasing $3.5 billion of shares in the first half. The company aims to save $2 billion in cash costs by the end of 2026. This move aligns with the trend among oil majors like Shell to prioritize shareholder returns despite challenges in cash flow and rising debt.
BP ends Big Oil earnings with maintained share buybacks https://t.co/O00I4X9aNJ
$BP (-2.2% pre) BP Maintains Share Buybacks as Cash Flow Drops, Debt Rises https://t.co/Ad389Bxhgb
Shell, BP Keep Pace of Stock Buybacks Steady After 2023 Retreat #oott https://t.co/Gj1Iich1Tr
BP Maintains Share Buybacks as Cash Flow Drops, Debt Rises Company will repurchase $3.5 billion of shares in first half CEO sets cash cost-saving goal of $2 billion by end of 2026 #oott https://t.co/ZLAQnYfRDV
BP kept up the pace of share buybacks in the second quarter, following peer Shell, as oil majors double down on making shareholders returns a priority https://t.co/v3oH58fkQN