Half Year Results 

Production and debt up at BP

Production and debt up at BP

As we pointed out in last month’s Income Majors feature, the financial metric currently preoccupying BP (BP.) investors is cash flow. For the last two years, dividend cover has looked thin or non-existent against the “new oil price environment”. At the same time, BP is investing. Just as well, then, that organic cash flow came in $3bn (£2.27bn) higher in the first six months of 2017 at $11.3bn, a sum more than sufficient to cover both the dividend and organic capital expenditure.

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