BP Cuts Aker BP Stake to 10.9% in $1B Share Sale

BP has sold a 5% stake in Norwegian oil and gas producer Aker BP for approximately $1.06 billion (NOK 9.83 billion), reducing its ownership from 15.9% to around 10.9% as it moves to strengthen its balance sheet.

The company said proceeds from the sale would be used to strengthen its balance sheet, while raising its expected full-year 2026 divestment and other proceeds to approximately $9 billion, around $1 billion above its previous guidance.

The sale was executed at NOK 311 per share, leaving BP with 68.7 million shares in Aker BP.

Following the transaction, BP has entered into a 90-day lock-up agreement covering its remaining Aker BP shares, subject to customary exemptions.

This story was originally published by Offshore Engineer. Read the full story at Offshore Engineer →