BP

BP has set the conversion rate for the second-quarter interim dividend at £1 = $1.35187, resulting in a payout of 6.4059 pence per ordinary share. The underlying dividend is $0.0866 per ordinary share; ADS holders will receive $0.5196 per ADS. The dividend applies to shareholders on the register on 14 August, and BP is not offering a scrip dividend for this distribution, but it does provide dividend reinvestment plans. » More on de.investing.com

BP agrees to sell stakes in offshore exploration assets to Shell: Shell will acquire 50% of the Tupinambá block in the Santos Basin and 30% of five licenses in the Conifer project in the US Gulf. BP will retain operatorship as well as the remaining 50% of Tupinambá and 70% of Conifer. The Tupinambá deal is subject to regulatory approval; BP says the transactions are consistent with its capital allocation strategy to streamline and enhance company value. » More on de.investing.com

After the surprise ousting of Albert Manifold, BP has appointed Ian Tyler as the new chairman of the board, after Tyler had already served in an interim capacity. Meg O’Neill has led the company since April and aims to bring stability through a simplified structure, debt reduction and a stronger focus on oil and gas. BP reported second-quarter profits rising to nearly $6 billion and benefits from high oil prices, but still carries high liabilities and plans to sell parts of its business. » More on faz.net