BP (NYSE:BP), after turning away a bid from the two largest oil and gas companies in Pakistan, announced they have sold the assets to United Energy Group for $775 million.
They continue on with their strategy of divesting of non-core assets in order to raise up to $40 billion to pay for liabilities related to the oil spill in the Gulf of Mexico.
Shares of BP were trading higher today, with volume exceeding 3-month daily averages. They were at $44.38. up $0.95, or 2.19 percent, as of 2:46 PM EST.
Tuesday, December 14, 2010
BP (NYSE:BP) Sells Pakistan Assets to United Energy Group
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