Tuesday, December 14, 2010
BP Sells Pakistan Operations
LONDON— Dec 14 2010 - BP PLC's total asset sales this year rose to almost $22 billion as the company agreed to sell its oil and natural-gas assets in Pakistan to United Energy Group for $775 million in cash. BP will use the proceeds of the sales to cover the estimated $40-billion cost of the Gulf of Mexico oil spill.
"Today's agreement is further evidence of the rapid progress BP has made toward the divestment target we set out last summer," of $25 billion to $30 billion, BP Chief Executive Bob Dudley said in a written statement. "We are continuing to identify further assets More >>>