BP turns a corner after Gulf blowout


LONDON (Reuters) - BP has turned a corner after the Gulf of Mexico disaster, its chief executive said on Tuesday, predicting the British oil firm would now return to output and cashflow growth and rejecting calls for a fundamental restructuring of the group.

Europe's second-largest oil group by market capitalisation said its cashflow would be 50 percent higher by 2014 and it could restart a programme of share buybacks and from next year begin to pay investors higher dividends.

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