The recently announced agreement with Rosneft leaves BP with
exposure to the important Russian region without some of the previous
distractions, and the hike in the dividend is proof of management’s
optimism for prospects.
JONATHAN JACKSON | KILLIK & CO
The results are strong, and they provide reassurance that the group remains focused on its core operations. Although the potential liability for the Gulf of Mexico oil spill remains an uncertainty, we are positive on the shares, which continue to trade on a discount to asset value.
STUART JOYNER | INVESTEC SECURITIES
The results were much stronger than we, and the market, anticipated. Overall, we have seen a much better result than the poor second quarter and the company has moved early on a dividend increase to nine cents a share. We retain our ‘buy’ rating on the stock.