Royal Dutch Shell Plc  .com Rotating Header Image

Oil major BP confirms Chinese investment fund has accumulated one per cent stake

THE ASSOCIATED PRESS: Oil major BP confirms Chinese investment fund has accumulated one per cent stake

Published: Tuesday, April 15, 2008 | 10:17 AM ET
Canadian Press: Jane Wardell, THE ASSOCIATED PRESS

LONDON – A Chinese investment fund has accumulated a stake of just under one per cent in British oil company BP PLC, the giant energy company confirmed on Tuesday.

BP spokesman David Nicholas said that BP was aware of the stake, which had been built up over a few months.

“We are a publicly traded company and we welcome all shareholders,” Nicholas said.

British Treasury chief Alistair Darling, who is attending the inaugural China-UK Economic and Financial Dialogue in Beijing, said the government welcomed foreign investment and did not interfere in commercial decisions.

BP declined to name the investor, but The Daily Telegraph reported that it was the State Administration of Foreign Exchange, the same Chinese state fund that recently reportedly built up a similar size stake in French oil giant Total SA.

The fund is an arm of the central bank that manages China’s US$1.68 trillion in currency reserves.

http://www.cbc.ca/cp/business/080415/b041531A.html

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.