BP wants to sell up to a 49% stake in its U.S. natural gas pipeline network, potentially raising $3 billion. This move aligns with CEO Murray Auchincloss’s efforts to reduce the company’s rising debt, which reached over $24 billion by the end of September. BP’s shares have dropped 18% this year, underperforming its peers. The company has also been selling assets, including stakes in its solar and wind operations, to increase cash flow. The U.S. oil and gas pipeline sector has consolidated due to production growth and permitting challenges.
