Close
Enter your search into one or more of the boxes below:
You can refine your search by selecting from any of the options below:
Search
Your Shopping Basket
Total number of items: 0
Sub total: £0.00
Go to Checkout
Sherlock Holmes shop
Our Birmingham Shop
Books We're Talking About
Our Bristol Shop
Animators Survival Kit

BP sells assets to cover Mexico spill

21st July 2010

Oil giant BP has announced that it will part-fund the cost of cleaning up the Gulf of Mexico spill by selling assets in the US, Canada and Egypt.

The firm has reached a deal with US-based oil production firm Apache Corp to sell its holdings in the Permian Basin in Texas and south-east New Mexico, its upstream gas assets in western Canada and two business and exploration concessions in Egypt for a total of USD 7 billion (GBP 4.6 billion).

Carl-Henric Svanberg, the chairman of BP, said that the firm has spent the past two months considering its options for covering the 'obligations likely to arise from the Gulf of Mexico oil spill'.

'The board believes that there are opportunities to divest assets which are strategically more valuable to other parties than they are to BP,' he commented.

BP group chief executive Tony Hayward added that the company has obtained an 'excellent price' for the assets and said it will strive to receive 'maximum value' for any other parts of the business it needs to sell.

On July 16th, BP revealed that the payments issued to individuals and businesses affected by the Gulf of Mexico spill had reached USD 201 million, with over 32,000 claimants receiving compensation so far as a result of the environmental disaster.

Latest Blog
#FoylesFive: Graphic Novel Gifts
01/12/2016

Matt from our web team shares his great graphic novel gifts, that will make someone's Christmas extra special.

#FoylesFive: Stocking Fillers
28/11/2016

Jay from our Birmingham branch fills us with Christmas cheer, and is on hand to help fill your Christmas stockings with gorgeous books.

#FoylesFave: Jim Henson's Labyrinth Tales by Cory Godbey
25/11/2016

If, like Andi, Labyrinth is one of your favourite films, you won't want to miss this gorgeous book.

View all Blog Entries
Twitter
Show/Hide Tweets
© W&G Foyle Ltd