BP absorbs its competitors

One of the world’s largest oil companies has bought the German company Ruhr Oel together with the Russian Rosneft. The company will be divided between them and subsequently reorganized. That purchase will help BP to better use its strategies and optimize its operations. At the same time, BP has purchased the oil and gas assets of the American company Devon Energy. With such smart moves, we soon can expect an increase in BP’s profit, which will definitely make the shares to grow.

The common positive sentiment has affected the value of BP shares, which has increased by 1.54% and continues to grow. Traders have an excellent chance to earn money on a further rise. Trading will be available during the European session, from 7:30 to 15:30 GMT time.

The news is only for informational purposes and cannot be construed as an offer or indication of the commission of certain transactions in the financial and commodity markets.