During the period, BP came close to completing its $8bn share buyback programme, having reached the $7.6bn level. Future divestments will be used �primarily for distributions to shareholders, biased towards share buybacks�.
BP (LSE: BP) (NYSE: BP.US) gave a slight wobble this morning, on news of new US sanctions targeting Rosneft, Russian largest oil producer, in which BP has a 19.75% stake. Should BP shareholders be worried, or is this just a storm in a teacup?
However, the U.S. Environmental Protection Agency (EPA) has barred BP plc from making fresh contracts with the federal government as the company was unable to demonstrate proper business integrity with regard to the 2010 Deepwater Horizon oil spill.