BP eyes asset sale after Osborne's oil budget
It looks like BP could be trying to cash in on some UK government largesse.
It looks like BP could be trying to cash in on some UK government largesse.
The Sunday Times reported yesterday that the oil giant is offering to sell around £2bn worth of assets in the North Sea.
The paper claims the sale has been prompted by the Chancellor George Osborne's decision in this year's Budget to underwrite 75% of the decommissioning costs of taking down oil rigs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Potential buyers of North Sea fields have been put off investing because of fears at facing a big bill at the end of a project.
At 10:06 BP shares had risen 0.34%. So far this year the stock is 4% ahead.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Trisara, Phuket – a feast for the senses in Thailand
Travel Stay at Trisara resort on Phuket island in Thailand for the top-notch food and spa
-
Expecting an inheritance? Don’t – only a fifth of Boomers plan to part with their cash
Higher priorities are travel and spending time with loved ones, with even those on the highest household incomes shunning inheritances