BP boosts dividend as it returns to profit on oil recovery.

BP boosts dividend as it returns to profit on oil recovery.
"What you’re seeing around the dividend is really a story of confidence," Looney said in a Bloomberg television interview.
"Confidence in the underlying performance of the business, confidence in the balance sheet."

Looney’s pledges that go further than the distributions policy BP outlined earlier this year.
The turnaround reflects the impact of higher energy prices, but also demands from shareholders, who weren’t happy in early 2021 with the company’s plans.
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"Twelve months on from when we laid out our strategy, of course the world’s in a very different place," Looney said.
"Global GDP is now back to pre-pandemic levels, the vaccines clearly are working" and people are travelling more, he added.
Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown, said BP could do more to bring down net debt, which still stands at $32.7bn, down from $35bn in the first quarter.