BP Agrees $332M Sale of London HQ

Ron Bousso
Monday, November 23, 2020

BP has agreed to sell its London headquarters for 250 million pounds ($332 million), a spokesman said on Friday, the latest in a string of disposals as the British energy company shifts to low-carbon energy.

BP also agreed to lease 1 St James's Square in central London back from Hong Kong-based property investment company Lifestyle International for two years, a BP spokesman said.

Lifestyle International also announced the deal in a filing on the Hong Kong stock exchange.

BP, led by CEO Bernard Looney, aims to sell $25 billion of assets by 2025, around half of which it has already divested or agreed a deal on, in an effort to reduce debt as it shifts to low carbon energy investments.

($1 = 0.7527 pounds) 

(Reporting by Ron Bousso; Editing by Edmund Blair and Elaine Hardcastle)

Categories: Activity Europe Energy Industry News

Related Stories

Orlen Terminates QatarEnergy LNG Deal Over Supply Disruptions

HPR Secures Taiwan Offshore Wind Deal After High-Current ROV Trials

Aquaterra Energy Changes Hands as Management Takes Ownership

Current News

DOF Group Announces CSV Contract Award and Extension

Murphy Oil Signs Four Production Sharing Contracts Offshore Cameroon

SSE Picks Siemens Energy for Turbine, Substation Work at Berwick Bank B

First Oil Flows from Vietsovpetro's Platform Offshore Vietnam

Subscribe for OE Digital E‑News