Energy in America

BP boosts payouts after profit jump, transition on track

The strong results, underpinned by higher sales at petrol stations, bolster BP’s plan to shift away from oil and gas to renewable and low-carbon energy in an effort to battle climate change, CEO Bernard Looney said.

Chevron tops profit estimates, joins share buyback stampede

Chevron Corp on Friday reported its highest profit in six quarters and joined an oil industry stampede to reward investors with share buybacks, as rebounding crude oil prices carried earnings and cash flow to pre-pandemic levels.