{"id":366577,"date":"2020-08-07T10:26:11","date_gmt":"2020-08-07T04:56:11","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=366577"},"modified":"2020-08-07T11:00:50","modified_gmt":"2020-08-07T05:30:50","slug":"bp-poised-to-sell-stranded-assets-even-if-oil-prices-rally-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bp-poised-to-sell-stranded-assets-even-if-oil-prices-rally-report\/","title":{"rendered":"BP poised to sell &#8216;stranded assets&#8217; even if oil prices rally: Report"},"content":{"rendered":"<p>BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the Covid-19 crash because it wants to invest more in renewable energy, three sources familiar with BP&#8217;s thinking said. <\/p>\n<p>The strategy was discussed at a BP executives meeting in July, the sources said, soon after the oil major lowered its long-term oil price forecast to $55 a barrel, meaning that $17.5 billion worth of its assets are no longer economically viable. <\/p>\n<p>But even if crude prices bounce back to $65-$70 a barrel, BP is unlikely to put those assets back into its exploration plans and would instead use the better market conditions as an opportunity to sell them, the three sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the Covid-19 crash because it wants to invest more in renewable energy, three sources familiar with BP&#8217;s thinking said. The strategy was discussed at a BP executives meeting in July, the sources said, soon after the oil major lowered its long-term oil price forecast to $55 a barrel, meaning that $17.5 billion worth of its assets are no longer economically viable. But even if crude prices bounce back to $65-$70 a barrel, BP is unlikely to put those assets [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-366577","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/366577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=366577"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/366577\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=366577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=366577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=366577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}