BP Restarts Buybacks on Bumper Trading Profits

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BP posted better-than-expected results on the back of a windfall from natural gas trading and generally strong commodity prices. The UK supermajor wasted no time in restarting a modest share repurchase program -- a focus point for investors since it slashed its dividend in August -- after reaching its debt target ahead of schedule. BP executives also shrugged off reports that the company was switching tactics with a recent move into the US retail power sector. "Exceptional" Trading Results

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