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Industry / Canada

BP Sheds Midstream Weight With Sale Of Canadian NGL Business

December 2011 | Industry News

The sale of BP's Canadian assets to Plains Midstream will help raise cash for the company's divestment programme. However, it remains well short of its target of US$45bn in asset divestments, raising the likelihood that it will be forced to sell a piece of its core upstream portfolio in order to meet liabilities associated with the Deepwater horizon disaster.

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