BP announces that it is to commence a share buyback program to repurchase ordinary shares. The purpose of the program is to reduce the issued share capital of the company towards distributing 60% of surplus cash flow generated in 2023 as announced by the company on August 1. The maximum amount allocated to the program is around $1.5B for a period up to and including October 27. The program will be carried out on the London Stock Exchange and/or Cboe and will be effected within certain pre-set parameters.
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