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BP spins off Norway business into billionaire's oil explorer

Monday, June 13, 2016 - 05:50

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BP plc sold its Norwegian oil fields, some more than 40 years old, to a company controlled by billionaire Kjell Inge Roekke in a 10.8 billion kroner (S$1.8 billion) stock deal.

London

BP plc sold its Norwegian oil fields, some more than 40 years old, to a company controlled by billionaire Kjell Inge Roekke in a 10.8 billion kroner (S$1.8 billion) stock deal.

The new business, called Aker BP ASA, will be the seventh-largest producer in Norway, with daily

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