Energy · 30 views
The Real Reason BP Is Retreating From the North Sea
BP is considering a sale of its UK upstream assets while accelerating exploration activity in higher-growth regions such as Brazil, Namibia, Egypt, Angola, and the United States.
Summary
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.
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