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bp sells 5% stake in Aker BP for $1.06 billion, raising proceeds to strengthen balance sheet
BPBP PLC
BP has executed the sale of a 5% interest in Norwegian oil and gas producer Aker BP at NOK 311 per share, generating gross proceeds of approximately $1.06 billion (NOK 9.83 billion). Following the transaction, BP retains an approximate 10.9% stake, representing 68.7 million shares subject to a 90-day lock-up. The company updated its full-year 2026 divestment guidance upward by $1 billion to around $9 billion. Proceeds will be used to strengthen the balance sheet as BP pursues a strategy of building a simpler, stronger business. BP operates in the global energy sector, engaged in exploration, production, refining, and marketing of oil and gas.