Oil and gas company criticised by campaigners as it plans more share buybacks to return cash to investors
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Profits at the energy company BP halved last year to nearly $14bn (£11bn), but were better than expected after weaker oil and gas market prices caused revenues to slump across the industry.
BP said it would return more cash to investors with $3.5bn of share buybacks over the first half of this year, and at least $14bn over the next two years. The move prompted criticism from campaigners who said the money would be better spent on investing in the green transition.
Continue reading…Oil and gas company criticised by campaigners as it plans more share buybacks to return cash to investorsBusiness live – latest coverageProfits at the energy company BP halved last year to nearly $14bn (£11bn), but were better than expected after weaker oil and gas market prices caused revenues to slump across the industry.BP said it would return more cash to investors with $3.5bn of share buybacks over the first half of this year, and at least $14bn over the next two years. The move prompted criticism from campaigners who said the money would be better spent on investing in the green transition. Continue reading…