BP Chairman Svanberg re: dividends

Jume 16, 2010

Day 58

BP posts

LIVE feed

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BP Chairman Carl-Henric Svanberg:

We appreciated the constructive meeting conducted by the President and his senior advisers and are confident that the agreement announced today will provide greater comfort to the citizens of the Gulf coast and greater clarity to BP and its shareholders.

We welcome the administration’s statements acknowledging that BP is a strong company and that the administration has no interest in undermining the financial stability of BP.

This agreement is a very significant step in clarifying and confirming our commitment to meet our obligations. We regret the cancellation and suspension of the dividends, but we concluded it was in the best interests of the Company and its shareholders.

His “small people” comment and clarification