BP to launch $20bn sale of stake in Prudhoe Bay oil field

first_imgSunday 5 September 2010 10:10 pm Show Comments ▼ whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports Dropmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comStudent SeaHilariously Relatable Family Photo FailsStudent Seaautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAffluent TimesHorrifying Truth Emerged When Niagara Falls Was DrainedAffluent Times whatsappcenter_img BP to launch $20bn sale of stake in Prudhoe Bay oil field BP has put its $20bn (£12.9bn) stake in Alaska’s Prudhoe Bay oil field up for sale as part of the oil major’s move to cover the rising costs of the Gulf of Mexico spill.The sale falls in line with plans announced by BP to auction off roughly $30bn in global assets to help pay for one of the worst environmental disasters in history.BP came close to selling its 26 per cent stake in Prudhoe Bay in June to rivals Apache, but the deal fell through when neither could agree on a price.It is understood that BP could also shed a large portion of its North Sea assets, which could generate up to $10bn. The group’s Russian joint venture, TNK-BP is thought to be a possible buyer.The group has already raised $10bn from asset sales.A spokesperson from BP declined to comment on both sales.News of the sales comes as BP is readying to publish the findings of its internal investigation into the cause of the Deepwater Horizon rig disaster, which led to 206m gallons of oil being leaked into the Gulf and has already cost $8bn to clean-up.BP’s group head of safety and operations, Mark Bly, who conducted the investigation, is expected to publish his report within the next 10 days. The “Bly Report” could have serious legal implications for the oil giant, if it is found to have been “grossly negligent”. Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULL KCS-content last_img read more