British oil giant BP has agreed to sell four wells in the Gulf of Mexico to Japanese trading company Marubeni for $650 million, Reuters reports.
The deal is BP’s latest move to sell off up to $30 billion in assets to offset the rising costs associated with cleaning up the Gulf of Mexico and the surrounding region after a disastrous explosion aboard its Deepwater Horizon offshore drilling rig in April. BP’s new chief executive said on Monday that the furor over the resulting oil spill was overblown by the media and oil industry competitors.
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