Energy
BP Seeks to Focus on Core Business to Boost Investor Interest
- Energy major to sell its onshore wind business in the US
- Firm to divest part of gas-pipeline stake in $1 billion deal
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BP Plc on Monday announced plans to sell its onshore wind business in the US as the oil and gas giant scales back its exposure to renewables and focuses on its core business.
Earlier in the day, the company also said it will offload part of its stake in a key natural gas pipeline to New York-based investment firm Apollo Global Management in a deal valued at $1 billion.