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BP sells stake in motor oil arm Castrol for $6B

bbc.com

3 points by dangalf 8 days ago · 1 comment

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dangalfOP 8 days ago

>BP in February announced plans to sell off $20bn (£15bn) worth of assets in a bid to focus on its core crude oil and gas business and strengthen its balance sheet. Following today's deal and previous announcements, the company says its over half way to meeting that target. It is also shifting its strategy away from investment in green energy and renewing its focus on oil and gas following pressure from some investors who were frustrated that its profits and share price had lagged behind rivals.

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