Arab Today, arab today bp to repurchase 8bn in shares
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

BP to repurchase $8bn in shares

Arab Today, arab today

Arab Today, arab today BP to repurchase $8bn in shares

London - UPI

British oil giant BP said it would buy back $8 billion in shares after completing a deal to sell its 50 percent interest in Russian venture TNK-BP. BP agreed in October to sell its stake in TNK-BP to Russian energy company Rosneft in a $17.1 billion deal that included cash and shares in Rosneft, the British Broadcasting Corp. reported Saturday. BP began its venture in TNK-BP with an $8 billion investment in 2003. The company said it generated $19 billion in dividends from the deal, making it a lucrative arrangement. But the partnership with TNK was fraught with company infighting and difficulties with the government. Russian investors accused BP with putting decision-making control n the hands of British executives. Russian authorities also raided the company\'s offices, accusing a number of employees with tax evasion, including TNK-BP\'s top executive Robert Dudley, who fled the country in 2008. BP is now represented in Russia through its holdings in Rosneft. \"We expect our stake in Rosneft will generate long-term value for BP and its shareholders. But this buyback program should also allow our shareholders to see benefits in the near-term from the value we have realized by reshaping our Russian business,\" said BP Chairman Carl-Henric Svanberg.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp to repurchase 8bn in shares Arab Today, arab today bp to repurchase 8bn in shares

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp to repurchase 8bn in shares Arab Today, arab today bp to repurchase 8bn in shares

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday