BP will buy back its stock for $5.9 billion

Immediately after signing the agreement with the U.S. Department of Justice, BP decided to spend up to 3.7 billion pounds ($ 5.9 billion) to buy back its shares.

BP said Thursday it will pay $4.5 billion in penalties and fines to victims of the Deepwater Horizon rig fire in the Gulf of Mexico.
According to the agreement, BP will be acquitted of criminal charges by the U.S. federal authorities, but civil lawsuits remain unsettled. Payments on such claims may amount to up to 21 billion dollars.

The British oil company has calculated that in order to raise the share price to its previous level (the price of which, after the tragedy, has fallen threefold), it is necessary to buy them for 5.9 billion dollars. It is planned to buy back the shares at the beginning of the next year.
As a result of the sale of its stake in TNK-BP to Rosneft, the British oil company will gain $12.3 billion. These funds will be used to repay debts to investors, although analysts believe that this will only happen after the court proceedings on civil suits.