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British oil giant BP said it would buy back $8 billion in shares after completing a deal to sell its 50 percent interest in Russian venture TNK-BP.
The Mediterranean region, the battleground of empires for millennia, is now the arena for a new kind of rivalry as global energy giants move in.
British oil giant BP said Monday it would sell $5.6 billion of its Gulf of Mexico assets to Plains Exploration and Production Co. of Houston, Texas.
UPI Almanac for Friday, July 27, 2012.
British petroleum giant BP said Friday it was considering offers for TNK-BP, a joint project in Russia that accounts for 25 percent of its oil output.
A multibillion-dollar trial set for Monday into the Gulf of Mexico oil spill was postponed to give BP time to reach a deal, BP and an overseeing committee said.
BP said Monday a partner in the well that exploded and caused a massive oil spill in the Gulf of Mexico in 2010 agreed to pay $4 billion to settle claims.
BP CEO Robert Dudley said last year's spill in the Gulf of Mexico shouldn't be dismissed by the oil and gas industry as a one-in-a-million occurrence.
British oil giant BP said Monday it had signed a $7.2 billion deal to buy 30 percent of 23 gas and oil fields in India from Reliance Industries Ltd.
The man who takes the helm of BP Friday says the company will set up a powerful new global safety division and make other changes in the way it operates.
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United Press International
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