BP Stock News

BP reported second-quarter profit of $2.76 billion on Tuesday, beating expectations as the energy company increased its dividend and extended its share repurchasing programme.

British oil giant BP posted underlying replacement cost profit, used as a proxy for net profit, of $2.8 billion for the second quarter. That beat analyst expectations of $2.6 billion, according to an LSEG-compiled consensus.

After Nicolás Maduro won the presidential elections in Venezuela with strong challenges coming from the opposition, which believes the real results are different, the public has become more interested in which oil stocks he endorses, particularly considering the country's struggling oil industry.

BP PLC (LSE:BP.) flagged weaker oil trading than expected and $1-2bn related to asset impairments in an update two weeks ago.

24/7 Insights Oil has traded solidly higher this summer and may continue the trend.

Investment activity remained high in June, focusing on BDCs aiming to increase dividend income by at least $100 each month. Adjusted dividend income in June is up 27% Y/Y and 5% vs the previous quarter. Main portfolio picks included Ares Capital, Hercules Capital, Goldman Sachs BDC, and MidCap Financial Investment Corporation.

British oil and gas producer BP , Venezuela's state oil company PDVSA and Trinidad and Tobago's National Gas Company are speeding negotiations for a Venezuelan license to develop natural gas deposits in the Caribbean Sea, four people familiar with the matter said.

Here's the simple breakdown for why you need to consider energy stocks. Americans are going through a challenging time with the economy.