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

Ndungu Full-Field Starts Up Offshore Angola

Ndungu Full-Field Starts Up Of

Norway's 2025 Oil Output Climbs to Highest Level Since 2009

Norway's 2025 Oil Output Climb

AKOFS Offshore Inks New Vessel Deal with Petrobras

AKOFS Offshore Inks New Vessel

UK Trade Body Challenges Government View on North Sea Gas Decline

UK Trade Body Challenges Gover

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine