Copyright Reuters
The sale comes as BP reviews how to develop its oil and gas production assets and cut costs as part of a $20 billion divestment programme by end-2027. Sign up here. It has been under pressure from investors after years of underperforming rivals and also the target of activist investor Elliott. BP's U.S. onshore oil and gas business, bpx energy, will hold a 51% stake in the Permian assets and 25% in the Eagle Ford assets after the deal, the oil major said. Reporting by Shashwat Awasthi in Bengaluru; Editing by Subhranshu Sahu
