BP Takes More Selective Approach to Divestments

Dow Jones
08/04

0849 GMT - BP seems to be taking a more selective approach to selling assets after lowering its disposal guidance to between $8 billion and $9 billion for this year, RBC Capital Markets analyst Biraj Borkhataria writes. The British energy major had previously guided for up to $10 billion. This is a sensible approach given the stronger macroeconomic environment, he writes. Overall, BP's new five priorities to turn the company around fall under the general bucket of "do better", he adds. "BP will need to 'walk the talk' consistently over the coming quarters to re-build investor confidence," he says. BP shares rise 1% to 557.70 pence.

 

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