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BP Gulf of Mexico sale raises cash for damages


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BP Gulf of Mexico sale raises cash for damages

The oil giant BP has sold some of its oil and gas fields in the Gulf of Mexico to an independent company based in Houston for 4.3-billion euros.

Plains Exploration and Production Company have confirmed that they have bought assets that were producing nearly 60,000 barrels of oil per day at the end of July.

BP is looking to raise money to pay for damages from the Deepwater Horizon disaster that devastated the gulf coast in 2010. The company might have to find up to 16.5-billion euros.

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