BP said on Monday it had amended some financial terms of the $5.6 billion sale of its Alaska business to privately held Hilcorp following the recent slump in oil prices, which may lead to a lower cash boost than initially planned.
FILE PHOTO: The logo of BP is seen at a petrol station in Kloten, Switzerland October 3, 2017. REUTERS/Arnd Wiegmann
The revised agreement retains the total consideration but adjusts the structure and phasing of the remaining payment, which includes smaller payments in 2020 and a new cash flow sharing arrangement in the near-term, the British oil major said.
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