BP To Revive Alaskan Assets Sale

BP is considering reviving the sale of its Alaskan assets, Bloomberg reports. The oil giant agreed to sell its oil and gas fields in the U.S., Canada and Egypt to Houston-based Apache for $7 billion. The deal did not include the Alaskan assets.

BP, which is expected to sell half its 26 percent stake in the Prudhoe Bay, may also sell other assets including fields in Vietnam and Colombia. BP will stop paying dividends, reduce capital spending and sell $10 billion of assets to raise cash for the $20 billion fund to compensate victims of the oil spill.

Click here for additional coverage.