BP Agrees $332M Sale of London HQ

Published

Credit: BP (file photo)
Credit: BP (file photo)

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)

Current News

Serica Energy Completes Acquisition of Prax Upstream

Serica Energy Completes Acquis

Equinor, Partners Okay $395M Johan Castberg Tie-Back Scheme

Equinor, Partners Okay $395M J

Gulf Auction Raises $279M as BP, Woodside and Chevron Dominate Bidding

Gulf Auction Raises $279M as B

Australia Revives Offshore Exploration with New Oil and Gas Acreage Offer

Australia Revives Offshore Exp

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine