Royal Dutch Shell is in talks to buy BP's stake in the Shearwater oil and g...
LONDON - Royal Dutch Shell is in talks to buy BP’s stake in the Shearwater oil and gas field in the British North Sea for around $250 million, three industry sources told Reuters.
Shell, the field’s operator, announced plans last year to expand a gas hub around Shearwater, including the construction of a new pipeline. For BP, a sale would mark a step toward its target of selling $5 to $6 billion of assets following its $10.5 billion purchase of BHP’s shale oil and gas portfolio in the United States last year.
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