BP has posted a higher-than-expected profit for the first half of 2024 and increased its dividend for shareholders.
The energy giant posted profit in excess of £4.2bn for the first six months of the year, a small decline on the same period in 2023.
The firm reported underlying replacement cost profit of $5.48bn (£4.26bn) for the six months to the end of June, down from the $7.55bn (£5.88bn) it reported a year earlier.
Reporting to the markets on Tuesday morning, BP also posted a replacement cost loss in its gas and low carbon energy business due to weaker gas marketing and trading.
Oil production and operations saw a rise in profits.
Murray Auchincloss, chief executive of BP, said: "Our businesses continue to operate safely and efficiently.
"We are driving focus across the business and reducing costs, all while building momentum in our drive to 2025.
"Our recent go-ahead of the Kaskida development in the Gulf of Mexico business, and decision to take full ownership of BP Bunge Bioenergia while scaling back plans for new biofuels projects, demonstrate our commitment to delivering as a simpler, more focused and higher-value company.
"This all supports growing returns for shareholders, as we have announced today."
BP increased its dividend to 10% and extended its share repurchasing programme into the fourth quarter.