BP says it expects to sell $10 billion in assets at end of the 2019 — sooner than expected

BP says it expects to sell $10 billion in assets at end of the 2019 — sooner than expected

BP PLC on Friday said it plans on selling some $10 billion in assets by the end of 2019, a year earlier than it had expected. The major oil company had announced plans to offload assets last year to shrink its debt ratio. The company in a statement on Friday said it has been selling oil assets in Alaska at a faster clip than had been anticipated, with those divestitures expected to result in a non-cash after-tax charge of $2-3 billion in the company’s 2019 full-year results. Shares of BP traded in London were down 0.7% on Friday at 5 pounds. U.S.-listed shares of BP were up 0.7% in premarket action at $37.41.

Source: marketwatch.com

Published: 11-10-2019