BP Sells 4 Gulf Of Mexico Fields

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.

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STEVE INSKEEP, host:

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

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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.

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