BP is selling 20 percent of its 60-percent stake in a gas block in Oman to Thailand’s national oil company for US$2.6 billion as part of its plan to receive US$25 billion in divestment proceeds by 2025. After the completion of the sale of 20 percent in Oman’s Block 61 to Thailand’s PTT Exploration and Production Public Company Limited (PTTEP), expected this year, BP will remain operator of the block with a stake of 40 percent, the UK supermajor said in a statement on Monday. The sale needs to be approved by the Sultanate of Oman and the other partners in the block. “We are committed to bp’s business in Oman – this agreement allows us to remain at the heart of this world-class development while also making important progress in our global divestment programme,” BP’s chief executive officer Bernard Looney said. BP, which has said it would boost […]