News Breaks |
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| March 22, 2013 |
| 06:03 EDT |  | BP | BP to buy back $8B of shares following completion of TNK-BP deal
BP announced that it intends to carry out a share repurchase, or buy-back, program with a total value of up to $8B. The decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The program is expected to return to BP shareholders an amount equivalent to the value of the company’s original investment in TNK-BP. Group CEO Bob Dudley that the size of the proposed buy-back program, which is expected to exceed that required to offset the EPS dilution expected as a result of the sale of TNK-BP, also reflected the reduction in BP’s asset base following its major $38B divestment program over the past three years. BP intends to retain the additional cash consideration of $4.48B received from the sale of its interest in TNK-BP to reduce BP Group debt as part of its continuing commitment to maintaining a strong balance sheet. |
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News For BP From The Last 14 Days Check below for free stories on BP the last two weeks. |
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| May 20, 2013 |
| 08:08 EDT |  | BP | EU to review fracking concerns, Reuters reports
Environmental concerns over the practice of hydraulic fracturing to get at shale gas will be on the EU's agenda this year, EU Energy Commissioner Guenther Oettinger told the German newspaper Die Welt, reports Reuters. Reference Link |
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| 05:40 EDT | | BP | U.S. oil futures rally as many commodities decline, WSJ reports
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| May 17, 2013 |
| 16:21 EDT |  | BP | On The Fly: Closing Wrap
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| 13:09 EDT | | BP | Tesoro receives FTC clearance for purchase of BP refining, marketing business
Tesoro (TSO) announced that the Federal Trade Commission has cleared the company's planned acquisition of BP's (BP) fully integrated Southern California Refining and Marketing business and that Tesoro intends to close the acquisition during Q2. The clearance from the FTC came without any impacts to the assets or operations in the transaction as announced in August of last year. The purchase price of BP's assets is $1.075B, plus the market value of inventory, currently estimated at $1.3B. This amount includes a $100M purchase price reduction for the clearance with regulatory authorities. |
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| May 16, 2013 |
| 14:46 EDT | | BP | Tesoro may take over BP California assets as soon as June 1, Reuters says
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| 14:32 EDT | | BP | Tesoro may take ownership of BP Carson refinery, other assets as soon as June 1
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| 07:11 EDT | | BP | BP wants PM Cameron to discuss Gulf compensation with U.S., Reuters reports
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| 06:08 EDT | | BP | On the Fly: Periodicals Wrap-Up
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| May 15, 2013 |
| 08:38 EDT | | BP | WTI crude falls for a fith consecutive day, Bloomberg reports
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| 05:55 EDT | | BP | EU inspects firms in oil investigation, WSJ reports
EU antitrust authorities carried out unannounced inspections of energy giants BP (BP), Royal Dutch Shell (RDS.A) and Statoil (STO), escalating an investigation of alleged oil-price manipulation amid scrutiny of how prices are set in global financial markets, reports the Wall Street Journal. EU officials are investigating whether the three companies manipulated prices in the $2.5T physical-oil market by giving false data to an oil index publisher, the Platts unit of McGraw Hill Financial (MHFI). Platts's offices were also inspected.Reference Link |
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| May 14, 2013 |
| 11:08 EDT | | BP | BP says involved in EC probe, cooperating with investigation, Bloomberg reports
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| 07:10 EDT | | BP | IEA says North American oil will dominate world supply growth, WSJ reports
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| May 7, 2013 |
| 16:01 EDT |  | BP | Options Update; May 7, 2013
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