7th Jul 2026 09:08
BP PLC - London-based oil major - On Monday, says has agreed to sell its non-operated interest in the Bay du Nord project offshore Newfoundland & Labrador in Canada, to Equinor ASA. BP says the transaction is consistent with its focus on portfolio simplification and disciplined capital allocation. BP holds interests across 10 licences associated with the Bay du Nord project, representing an average working interest of around 37%, with Equinor being the operator. Gordon Birrell, executive vice president at BP's Upstream, says: "We're proud of our partnership with Equinor and the work we’ve done together to develop the Bay du Nord project. However, bp is exercising strict capital discipline, allocating it to the opportunities that create the most value for bp." BP says it will continue to hold its 100% interest in two exploration licenses offshore Newfoundland & Labrador.
Current BP stock price: 474.88 pence each, up 1.5% on Tuesday morning in London
12-month change: up 28%
Current Equinor stock price: EUR28.95, up 2.5% on Tuesday morning in Paris
12-month change: up 33%
By Tom Budszus, Alliance News slot editor
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