The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 483.00
Bid: 481.65
Ask: 481.80
Change: 0.45 (0.09%)
Spread: 0.15 (0.031%)
Open: 479.30
High: 483.25
Low: 477.30
Prev. Close: 482.55
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Russia holds off raking in profit from state energy holding

Fri, 11th Apr 2014 07:10

MOSCOW/WASHINGTON, April 11 (Reuters) - The Russiangovernment is not planning to take almost all the sizeableprofits earned by state energy holding Rosneftegaz as dividendsin 2013, Finance Minister Anton Siluanov said, contradicting amedia report on Friday.

Business daily Vedomosti reported on Friday that thegovernment wants to take 95 percent of Rosneftegaz's 2013 profitas dividends, a plan opposed by the holding's chairman IgorSechin.

Speaking on the sidelines of the International Monetary Fundand World Bank meeting in Washington, Siluanov told reportersthe issue had been discussed, but it was off the table for now.

"As far as the transfer (to the budget) of up to 95 percentof Rosneftegaz's profit is concerned, no such measures areforeseen in the budget and we're not examining any suchproposals," he said.

The Russian government needs extra funds to shore up thebudget and secure the financing of Crimea, a region annexed byRussia from Ukraine in March.

Rosneftegaz controls 69.5 percent in top oil producerRosneft and almost 11 percent in the world's largestnatural gas producer Gazprom.

Vedomosti, citing two unnamed sources, said that Sechin hasvoiced his opposition to the plan, agreeing only to the paymentof 25 percent of profit as dividends since the holding wants tosave cash for future acquisitions.

Rosneftegaz made $4.87 billion from BP's acquisitionof Rosneft shares last year as part of a deal to sellAnglo-Russian TNK-BP oil firm to the Russian oil producer. Italso secured 78.2 billion roubles ($2.2 billion) from Gazprom'sand Rosneft's dividend, Vedomosti said, while net profit came inat around 185.3 billion roubles.

($1 = 35.5008 Russian Roubles) (Reporting by Vladimir Soldatkin in Moscow and Lidia Kelly inWashington; editing by Keiron Henderson)

More News
17 Nov 2023 12:00

LONDON MARKET MIDDAY: Stocks shrug off downbeat UK retail sales

(Alliance News) - Stock prices in London were up at midday on Friday, as a week of favourable data as far as inflation goes gave investors a reason to overlook disappointing UK retail sales figures.

Read more
17 Nov 2023 09:03

LONDON MARKET OPEN: Stocks up despite UK retail sales growth miss

(Alliance News) - Stock prices in London opened higher on Friday, despite weaker-than-expected October retail sales figures for the UK.

Read more
16 Nov 2023 16:59

LONDON MARKET CLOSE: Stocks give way after rate optimism-fuelled rally

(Alliance News) - European equities closed lower as a post-US inflation slowdown rally seen on Tuesday and Wednesday gave way to a more muted session on Thursday.

Read more
16 Nov 2023 12:06

LONDON MARKET MIDDAY: Stocks down as post-inflation data rally fades

(Alliance News) - Stock prices in London were down at midday on Thursday, with mixed corporate updates tempering enthusiasm in the wake of two favourable inflation readings earlier in the week.

Read more
16 Nov 2023 08:57

LONDON MARKET OPEN: FTSE 100 flat; Burberry tumbles on weak outlook

(Alliance News) - Stock prices in London opened in a muted fashion on Thursday, as the week's optimism waned somewhat, but did not give way to pessimism.

Read more
10 Nov 2023 16:53

LONDON MARKET CLOSE: Europe and New York diverge after hawkish Powell

(Alliance News) - Stocks in Europe suffered on Friday, as US interest rate worries cast a dark cloud over equity markets, though counterparts in New York had a more resilient start to the day.

Read more
10 Nov 2023 15:45

London close: Stocks tumble on Powell comments as GDP stagnates

(Sharecast News) - London markets declined on Friday as investors reacted to hawkish remarks by Federal Reserve chair Jerome Powell made overnight.

Read more
9 Nov 2023 08:57

LONDON MARKET OPEN: FTSE 100 kicks off day with cautious gain

(Alliance News) - London's FTSE 100 struggled for direction early Thursday, with a mixed slate of corporate updates, US interest rate worries and underwhelming China data preventing it from making more confident progress in early trade.

Read more
7 Nov 2023 16:58

LONDON MARKET CLOSE: FTSE 100 held back by miners and oil firms

(Alliance News) - The FTSE 100 in London closed slightly lower on Tuesday, as miners and oil firms continued to drag down the index throughout the day.

Read more
7 Nov 2023 12:07

LONDON MARKET MIDDAY: Housebuilders and retail up, miners and oil down

(Alliance News) - European equities were mixed heading into Tuesday afternoon, with weaker China data and doubts over the US interest rate outlook weighing on the mood.

Read more
7 Nov 2023 08:53

LONDON MARKET OPEN: AB Foods and Frasers rise on buybacks; RS slumps

(Alliance News) - A subdued start to the week for European equities continued on Tuesday, with hawkish words from a US central banker supporting the dollar and making some rethink their interest rate outlook for the Federal Reserve.

Read more
6 Nov 2023 10:24

Kosmos Energy to operate Yakaar-Teranga gas discovery amid BP exit

(Alliance News) - Kosmos Energy Ltd on Monday said it has increased its working interest in the Yakaar-Teranga discovery to 90%, consequently assuming operatorship, and reported a rise in its quarterly revenue.

Read more
3 Nov 2023 17:01

LONDON MARKET CLOSE: Stocks end week mixed on soft US employment data

(Alliance News) - Stock prices in London closed mixed on Friday, as some soft US data seemingly confirmed that the central banks are done with interest rate hikes, at least for now.

Read more
2 Nov 2023 10:19

Berenberg ups BP target but sees greater upside elsewhere

(Sharecast News) - Berenberg has lifted its target price for oil titan BP after this week's third-quarter results, but kept a 'hold' rating, saying it sees more attractive investments elsewhere in the sector.

Read more
2 Nov 2023 10:14

LONDON BROKER RATINGS: Bank of America starts Unite Group with 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.