Ecopetrol To Buyout BP Colombian Business

BP has agreed to sell its oil and gas exploration business in Colombia.

The company has announced the sale for $1.9 billion to a consortium of Ecopetrol, Colombia’s national oil company, and Talisman of Canada. BP recently announced plans to sell a number of worldwide assets to help cover the costs from the Gulf of Mexico oil spill. It has said it needs to raise around $30 billion from assets.

In the next round of sales, interests in Pakistan and Vietnam will also go.

Source

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