BP shares rise on plan to sell $7B in assets - BusinessWeek

By
Viraj
on July 22, 2010 8:36 AM | | TrackBacks (0)
Shares of BP PLC rose Wednesday after the British oil giant agreed to sell $7 billion in assets to help pay costs stemming from the massive oil spill in the Gulf of Mexico.

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The price risen about 34 percent since hitting a 14-year low of $27.02 but still is less than the $60.48 per-share price on April 20 when the BP-operated rig exploded. BP announced plans Tuesday afternoon to sell properties in the U.S., Canada and Egypt to oil and gas production company Apache Corp. for $7 billion.

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This page contains a single entry by Viraj published on July 22, 2010 8:36 AM.

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