BP Shares Shift Higher on Potential Sale of Interest in Russian Joint Venture

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BP PLC
BPLOGO.jpg
TypePublic limited company
IndustryOil and Gas Producers
Trades asLSE:BP.
Founded1908 [1]
Websitewww.bp.com
BP. stock chart
Friday, June 1, 2012

ADVFN News - Lou Gutheil

BP's share price hit 412.90p this morning, the stock’s best performance level in 3 weeks. It was up 4.3% and 18.00p early on, [2] but seemed to be moderating at mid-morning, drifting back to 405.55p. This was still 10.65p above yesterday’s close. [3] The early jump in share price came in response to a press release issued at 7:00 am. [4]

The Press Release

Observations

BP has not revealed the names of the parties who have presented the offers. In its announcement the company also said that “there can be no guarantee that any transaction will take place.” [4]

Company Spotlight

BP is one of the world’s largest oil and gas companies operating in countries around the globe providing petrol and petrochemical products, alternative energy, shipping, and a host of other related businesses. [10]

References

  1. Company History
  2. 2.0 2.1 Financial Times
  3. London Stock Exchange
  4. 4.0 4.1 4.2 Official Company Press Release
  5. 5.0 5.1 5.2 Reuters
  6. BBC News
  7. The Associated Press
  8. The Guardian 01 June 2012
  9. The Guardian 28 May 2012
  10. BP Business Portfolio
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