BP boosts buyback as fourth quarter profit top expectations

BP PLC (LSE:BP.) picked up the pace of its share buyback plans after delivering fourth quarter profit ahead of expectations. The oil major said fourth quarter underlying replacement cost profit was $2.99 billion, down from $4.81 billion the year prior, but ahead of City forecasts of $2.76 billion. BP announced a quarterly share buyback of $1.75 billion and pledged a further $3.5 billion buybacks in the first half of 2024. Ths compared to $1.5 billion buybacks in the first three quarters of 2023.  BP said th ...