BP Announces Divestment Plans, No Details

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

Tools

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.

You have indicated this comment should be removed.

Close

The comment has been submitted for review. Thank you .

Guest said on Monday, Nov 4 at 11:44 AM

I thought the tax breaks were supposed to spur investment not reduce it? Still believe Parnell now? So now we get less taxes from the most profitable industry in the world and in kind return they are investing less in the state. Which they promised they would invest more if we would just cut them a break on taxes. Pathetic and you, who supported this only have yourselves to blame. And to top it off, the money that we would have used to run our state now goes to BP shareholders. How you people fall for this tactic over and over is amazing.

Add a comment

Name:

Comment: 1000 Characters Left

Coastal Television | AK News, Weather and Sports | and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.