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Aker BP to raise dividends for 2018 by $100 mln, further increase ahead

Reuters - UK Focus

OSLO, Jan 15 (Reuters) - Norway's Aker BP (LSE: 0M5J.L - news) will increase dividends for 2018 by $100 million to $450 million, and has "a clear ambition" to grow dividends further by the same amount each year to 2021, the oil company said on Monday.

"Our financial position has been strengthened. We have seen a rapid de-leveraging, and foresee a solid cash generation combined with a strong liquidity position," the company, 30 percent owned by BP, said in a statement.

Aker BP expects its production to be between 155,000 and 160,000 barrels of oil equivalents per day (boepd) in 2018 compared to a proforma output of 160,000 boepd in 2017, it added. (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)