Aug 27, 2019

Oil giant BP to pull out of Alaska as sells business for $5bn

BP will no longer have any operations in Alaska after it agreed to sell its entire remaining business there to a private oil and gas firm. The extreme cold and remoteness of some of the drilling regions of Alaska makes it expensive for firms to operate there. BP's chief executive Bob Dudley said Hilcorp had the ability to "Maximise its value for the State of Alaska." BP began working in Alaska in 1959, and in the mid-1970s helped build the 800-mile Trans Alaska Pipeline. BP said about 1,600 employees were currently associated with its Alaskan business.

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