BP steps up share buybacks despite full-year profit miss

In 2020 BP set its ambition to become a net zero company “by 2050 or earlier”.

Matt Cardy | Getty Images News | Good pictures

British oil major BP on Tuesday announced plans to raise shareholder returns, even after full-year profits were hit by lower oil prices.

Base replacement cost profit, used as a proxy for net profit of $13.8 billion in 2023, a decline from $27.7 billion a year earlier.

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