BP has sold four of its Gulf of Mexico oil fields to Japan’s Marubeni Oil and Gas for $650 million (€466 million), AP reports.
The oil company is selling assets to cover the costs of cleaning up the Deepwater Horizon oil spill, called “the worst environmental disaster in U.S. history,” by DailyFinance.com. The company has sold more than $11 billion worth of assets.
BP acquired the fields in March 2010 as part of a $7 billion deal with Devon Energy, AP reports.
The fields yielded about 15,000 barrels of oil equivalent per day, which “did not fit well with the rest of our business in the region,” BP said, in the DailyFinance report.
The oil company is selling assets to cover the costs of cleaning up the Deepwater Horizon oil spill, called “the worst environmental disaster in U.S. history,” by DailyFinance.com. The company has sold more than $11 billion worth of assets.
BP acquired the fields in March 2010 as part of a $7 billion deal with Devon Energy, AP reports.
The fields yielded about 15,000 barrels of oil equivalent per day, which “did not fit well with the rest of our business in the region,” BP said, in the DailyFinance report.