BP Asset Sales at $11 Billion, May Do $19 Billion More
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BP Plc’s asset sales to raise cash to pay for the Gulf of Mexico oil spill rose to more than $11 billion, and the disposal of other fields slated for sale may net the company about $19 billion more.
BP said in July it would raise between $25 billion and $30 billion over 18 months from selling oil and gas production assets outside key regions for growth. Today, it announced the sale of $1.8 billion of fields in Vietnam and Venezuela to its Russian joint venture TNK-BP.