BP Raises Full-Year Divestment Expectations After Results Beat Views

BP posted better-than-expected profit despite a weaker contribution from its oil trading division, and increased its expectations for full-year divestment proceeds as it continues with its turnaround program to catch up with its European peers.

The London-based oil-and-gas company said Tuesday that the results reflect higher production and stronger refining margins, which were partly offset by a weak oil trading result.