Friday, 22 March 2013

Share buy back BP

BP is a British petroleum company

BP is taking a jump up today which is due to their press release saying that they intend to buy back shares in a quantity of 8 billion $.

These 8 billions $ is what BP invested into the TNK-BP semi-failed joint venture back in 2003 and now when the sale has been pushed through to Rosneft that money will go back to the company through share buy back.

I like this. The BP shares are currently very cheap so it is a good moment for BP to buy back some of its shares and especially since they have made so large divestments that if something like this had not been done then the profit per share would seriously drop this year. I will of course not sell any of my shares back to BP.

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