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* Increase in H1 production to 3.662 mln mboe / d from the previous year 3.544
* Confirmation of the divident's rise to 10.25 cents / share
* Gearing to the end of June 27.8 pct (1965b002) LONDON, July 31 (Reuters) – Rising oil prices and increased production boosted BP's earnings in the second quarter to $ 2.8 billion, or four times more than a year ago.
The company also confirmed that it would increase its quarterly dividend for the first time in almost four years, offering 10.25 cents per share.
BP takes a turning point after the collapse in oil prices and gradually eliminates a $ 65 billion bill for the penalties and cleanup costs of the Deepwater Horizon spill in 2010.
Underlying Replacement earnings, the definition of net income of the company, exceeded expectations by $ 2.7 billion, according to a survey provided by the company's badysts.
He earned $ 0.7 billion a year earlier and $ 2.6 billion in the first quarter.
First-half production reached 3 662 million barrels of oil equivalent per day, including Rosneft production, compared to 3 544 million barrels a day a year ago.
Brent Benchmark Brent futures, currently above $ 74 per barrel, have increased by 16% in the first half of 2018 and by approximately 60% since June 30, 2017.
Largest transaction in nearly 20 years to buy $ 10.5 billion of US shale oil and gas badets from global mining company BHP Billiton, expanding the footprint of the British oil giant in rich onshore basins in oil.
BP also buys $ 200 million worth of shares in the first half of this year.
In the second quarter, he paid $ 700 million for the after-tax spill.
The debt ratio, BP's debt-to-market ratio, declined to 27.8% at the end of the quarter, compared with 28.1% at the end of March. Net debt rose to $ 39.3 billion at the end of June, up from $ 40 billion at the end of March.
Report by Shadia Nasralla; edited by Jason Neely and
Kirsten Donovan
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