BP has agreed to sell its stake in a number of oil and gas fields in the deepwater Gulf of Mexico to Texas-based Plains Exploration and Production Company for £3.47bn.
The sale comes two years after the Deepwater Horizon disaster in the Gulf that saw BP hit with a multi-billion dollar fine for poor handling of one of the world’s worst oil spills. At the end of July 2012, the acquired fields were producing an estimated 59,500 barrels of oil equivalent every day. It has taken over the…
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