BP has started a process to sell stakes in two of its Gulf of America projects, four people with knowledge of the matter said, in what would be one of new CEO
BP has started a process to sell stakes in two of its Gulf of America projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O'Neill's first moves.
BP, one of the largest operators in the Gulf of America, has been weighing a sale of minority stakes in the Kaskida and Tiber projects for more than a year, with each estimated to be worth billions of dollars to the company, Reuters has previously reported.
The four people did not give the size of the stakes BP is looking to sell and spoke on condition of anonymity to discuss private deliberations.
BP declined a Reuters request for comment.
BP reset its strategy last year to refocus on oil and gas investments, departing from its foray into renewables after criticism from investors and a poor share performance.
CEO O'Neill, who is from Boulder, Colorado, and is the company's first external hire in more than a century, took up the role in April.
The Kaskida and Tiber projects are considered BP's top prospects in the Gulf of America, with each expected to have production capacity of 80,000 barrels of oil a day. Kaskida is expected
Content Original Link:
" target="_blank">
