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Business & FinanceEnvironment

Reuters exclusively reports BP poised to sell ‘stranded assets’ even if oil prices rally

Reuters exclusively reported that BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants to invest more in renewable energy. The strategy was discussed at a BP executives meeting in July, Reuters sources said, soon after the oil major lowered its long-term oil price forecast to $55 a barrel, meaning that $17.5 billion worth of its assets are no longer economically viable.

Article Tags
Topics of Interest: Business & FinanceEnvironment
Type: Reuters Best
Sectors: Commodities & Energy
Regions: AfricaAsiaEuropeMiddle EastNorth AmericaSouth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text