BP, Europe’s second-largest oil company, has agreed to pay US producer Devon Energy five billion euros for assets in Brazil, Azeri and the Gulf of Mexico.
BP is also selling Devon a 50 percent stake in its Kirby oil sands interests in Alberta, Canada.
Analysts said it is hard to tell whether BP is paying a good price as the deal includes fields whose reserves are unknown as they are still being explored.
Get a different perspective
Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.