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Market Chatter: BP Reportedly Initiates Process to Shed Stakes in Two Gulf of Mexico Projects

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BP (BP.L) has kicked off the process to offer its stakes in two projects in the Gulf of Mexico, Reuters reported Friday, citing four people with knowledge of the matter.

The newswire reported in March that the British energy giant was seeking buyers for minority stakes in the Kaskida and Tiber projects, expected to be valued at billions of dollars. The latest report did not disclose the size of the stakes BP is planning to sell.

BP did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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