BP to sell assets to pay for continued cleanup costs
POSTED: Monday, September 10, 2012 - 10:15pm
UPDATED: Wednesday, October 24, 2012 - 10:07am
GULF COAST, LA — BP announced today that it's selling off nearly $6-billion in deep-water assets in the Gulf. The company is trying to raise money to pay for cleanup costs from that huge oil spill in 2010.
BP struck a deal to sell some of its oil and gas fields to Houston-based Plains Exploration and Production Company.
BP is hoping to sell $38-billion in assets by the end of next year to cover charges for the spill.
The final cost of the cleanup could be billions more if BP is found guilty of "gross negligence" in causing the disaster that killed 11 oil rig workers.