Energy sector shares declined as oil prices fell on news that OPEC+ was ramping up production, amid concerns of a potential oil glut. Separately, BP said it would sell its 37.2% stake in Canada’s Bay du Nord project to partner Equinor.
Shares of energy companies declined as oil prices fell on news that OPEC+ was ramping up production, amid concern about a potential oil glut.
BP said it would sell its non-operated interest in the Bay du Nord project in Canada, giving sole ownership to project partner Equinor. The company said Monday the sale of its 37.2% stake in the project is part of a simplification of its portfolio. Financial terms weren’t disclosed.
Source: MarketScreener (snippet-based)
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