Growing confidence in Oil2 May 2018 13:06
Hopefully cerp will be pulled along for the ride..
The prospect of improved shareholder returns from BP reflects growing confidence among the world�s largest energy groups as they ride the recovery in oil prices.
Brent crude, the international benchmark, is trading at about $75 a barrel, its highest level since the collapse from above $100 a barrel in 2014.
Brian Gilvary, BP chief financial officer, said improved market conditions, rising production and tight control of spending were opening options for returning more cash to shareholders.
�With these oil prices, we will now see net debt naturally start to decline and that will give an opportunity later this year for potential further distribution around buybacks or a conversation with the board around the dividend,� he told analysts on a conference call.