NPR logo

BP Sells 4 Gulf Of Mexico Fields

  • Download
  • <iframe src="https://www.npr.org/player/embed/130801919/130801894" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
BP Sells 4 Gulf Of Mexico Fields

Business

BP Sells 4 Gulf Of Mexico Fields

BP Sells 4 Gulf Of Mexico Fields

  • Download
  • <iframe src="https://www.npr.org/player/embed/130801919/130801894" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

BP is selling four of its oil fields in the Gulf of Mexico for $650 million. The buyer is the Japanese firm Marubeni Oil and Gas. BP is trying to raise about $30 billion to pay damage claims stemming from the Deepwater Horizon oil spill in the Gulf six months ago.

STEVE INSKEEP, host:

NPR's business news starts with BP downsizing in the Gulf.

(Soundbite of music)

INSKEEP: BP is selling four of its oil fields in the Gulf of Mexico for $650 million. The buyer is a Japanese firm, Marubeni Oil and Gas. This is the latest in a series of sales by BP. Last week, the oil company sold assets in Venezuela and Vietnam worth nearly $2 billion. This is what you do when you're trying to raise $30 billion, the amount that BP wants to raise to pay damage claims stemming from the Deepwater Horizon oil spill in the Gulf six months ago.

Copyright © 2010 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.