Oil giant BP announced strong financial results for the second quarter of the year, with its profits exceeding expectations and reaching $2.76 billion, registering 6% growth compared to the same quarter last year.

This strong performance is due to a combination of factors, including rising oil and gas prices, efficient operations, and the company’s successful strategies.

With these positive results, BP decided to increase its cash dividends to shareholders to 8 cents per share and extend the share buyback program worth $1.75 billion for the third quarter, confirming its commitment to enhancing the company’s value to its shareholders.

The company also announced an ambitious goal to purchase shares with a total value of $7 billion during the current year. This announcement comes at a time when the energy industry is witnessing great fluctuations, which reflects BP’s ability to achieve outstanding results under these difficult circumstances.