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Economy Country 2025-11-03T13:08:06+00:00

BP Sells U.S. Oil and Gas Assets for $1.5 Billion

British Petroleum (BP) is selling its non-controlling stakes in U.S. onshore oil and gas transportation assets in the Permian and Eagle Ford basins for $1.5 billion. The deal is part of a program to divest $20 billion in investments by 2027.

BP Sells U.S. Oil and Gas Assets for $1.5 Billion

British Petroleum (BP) announced on Monday that it will sell its non-controlling stakes in U.S. onshore oil and gas transportation assets in the Permian and Eagle Ford basins for $1.5 billion. BPX Energy, BP's American subsidiary for onshore oil and gas exploration and production, stated that after the deal, it will own a 51% stake in the Permian basin assets and a 25% stake in the Eagle Ford basin assets. The sale comes as the company is reassessing how to develop its oil and gas production assets and reduce costs, as part of a program to divest $20 billion in investments by the end of 2027.

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