BP Announces Divestment Plans, No Details

BP plc announced plans this week to divest $10 billion in assets before the end of 2015.

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by Associated Press

JUNEAU- BP plc announced plans this week to divest $10 billion in assets before the end of 2015.

But spokesman Robert Wine said by email that he had not gotten any guidance on where those assets might be or which part of BP's business.
BP is a major player in Alaska's oil industry and is among the companies pursuing a major natural gas pipeline project in the state.
The company, in a release, said proceeds from the divestments are expected to be used predominantly for additional shareholder distributions.