BP Announces Divestment Plans, No Details

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


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.

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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.

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