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Euronews
Euronews
Eleanor Butler

BP launches cost-cutting scheme despite beating profit expectations

British Petroleum Helge Lund Oil

BP surprised investors on Tuesday by reporting stronger-than-expected profits in the second quarter, following a period of price volatility.

Adjusted profits came to $2.4 billion (€2.1bn) for the three months through June, beating analyst forecasts of $1.8bn (€1.6bn). BP also announced a $750 million (€650mn) share buyback.

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