BP: intends to complete sale of Alaska business

(CercleFinance.com) - BP remains committed to completing the sale of its Alaska business to Hilcorp, expecting to close the deal in June 2020.


BP and Hilcorp have, however, renegotiated the financial terms of the deal in response to the recent fall in oil prices, the British oil major said in a statement Monday.

While the sale price remains unchanged at 5.6 billion dollars, the structure of the deal and phasing of payments has been modified, adding "flexibility" to accommodate the volatility in oil prices, BP said.

Copyright (c) 2020 CercleFinance.com. All rights reserved.