Apollo Funds Acquires 25% Stake in BP's TANAP Pipeline for $1 Billion

Reported about 12 hours ago

BP has made an agreement to sell a 25% stake in a company that holds a 12% interest in the TANAP gas pipeline to Apollo Global Management for $1 billion. This move is part of BP's strategy to reduce its net debt and adjust its focus from renewables to oil and gas while managing a $20 billion disposal plan by 2027.

Source: YAHOO

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