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Share Price Information for BP (BP.)

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Share Price: 511.60
Bid: 511.50
Ask: 511.60
Change: 7.50 (1.49%)
Spread: 0.10 (0.02%)
Open: 506.10
High: 511.70
Low: 505.30
Prev. Close: 504.10
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BP buys Scandinavian jet fuel business

Wed, 03rd Sep 2014 14:22

LONDON, Sept 3 (Reuters) - Oil and gas producer BP will buy Scandinavian aviation fuel business Statoil Fuel &Retail (SFR), adding 73 airports to its around 600-strong globalfuel network, the company said on Wednesday.

SFR, owned by Canadian company Alimentation Couche-Tard Inc, operates mostly in northern Europe and 59 of itsemployees in Norway, Sweden and Denmark are expected to join AirBP, it said.

The value of the deal was not disclosed.

"Bringing SFR Aviation's business into our own strengthensour position in Scandinavia which is an attractive region forthe aviation industry, especially in the general aviationmarket," said David Gilmour, chief executive of Air BP, its jetfuel division.

Air BP is one of the world's largest suppliers of aviationfuel and supplies around 240 million tonnes of the fuel everyyear.

At 1358 GMT, BP shares were trading up 1.32 percent 483.60pence per share. (Reporting by Ron Bousso; editing by Susan Thomas)

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