BP has reported an underlying replacement cost (RC) profit of $2.8 billion (€2.6 bn) for the second quarter, beating forecasts of $2.6bn (€2.4bn), thanks to high oil and gas prices that offset significantly reduced refining margins. The profit represented a 4% sequential increase from $2.7bn (€2.5bn) in the March quarter. The British oil giant raised its dividend by 10% to 8 US cents (€0.07) per share from 7.27 US cents, and extended the previously announced $3.5 billion (€3.2bn) share buyback programme. This brings the total investor returns to $7bn (€6.4bn) for 2024. BP shares initially rose…