BP sells 20% stake of Oman gas development to Thailand state-owned energy firm

Multinational oil and gas company BP plc agreed to sell a 20% stake in Oman’s Block 61 to Thailand’s national petroleum exploration and production company (PTTEP) for $2.6 billion. The purchase aligns with BP’s goal to reduce debt and shift towards renewables through large asset sales, and agrees with PTTEP’s strategy to increase their gas portfolio.