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1 sources · updated 2d ago

BP Considers North Sea Asset Sale Valued Around $2.7 Billion

BP is exploring a potential sale of all or part of its UK upstream portfolio, valued at approximately £2 billion ($2.7 billion), after talks with Ithaca Energy fell through. The move would align with BP's strategy and reflect broader industry trends of major operators reducing North Sea holdings.

Coverage — read at the source

oilprice.com · 2d ago
The Real Reason BP Is Retreating From the North Sea ↗
BP is still considering a sale of all or part of its UK upstream portfolio, which could fetch around £2 billion ($2.7 billion), though talks of a sale to Ithaca Energy fell through earlier this month, according to reports by Bloomberg and the Financial Times. We think the information is credible. A sale would fit the group’s strategic direction, and the company is an outlier in the UK, where other majors have either sold down or formed joint ventures. At the same time, BP has been pushing aggres…

BP Considers North Sea Asset Sale Valued Around $2.7 Billion · GridDigest