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Article: 3.6bn BP deal to mop up 3000 petrol stations
- Article from:
- The Evening Standard (London, England)
- Article date:
- July 16, 2001
- Author:
CopyrightCopyright 2001 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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BP, the oil giant that points to the poor returns it makes on
selling petrol as evidence that it is not to blame for high fuel
prices, has bought another 3000 petrol stations throughout Europe in
a deal thought to be worth about e 6 billion (3.65 billion).
The move, which will give BP control of Germany's biggest fuel
retailer, also involves BP slashing its stake in Germany's leading
gas distributor at a time of high gas prices and forecasts for
continued strong demand on the Continent.
The twin effects of the deal will cast further doubt on the oil
companies' claims that they are in no way responsible for high petrol
prices, which they say are the result of fuel tax.
BP cited the $21 ...