BP Considers Selling Small Stake in Its Offshore Wind Business

BP is considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector, anonymous sources have told Reuters. Currently, BP doesn’t operate offshore wind farms, but it had a pipeline of offshore wind developments worth 9.6 gigawatts (GW) as of June this year. The UK-based supermajor, which is pivoting back to its core business of oil and gas to give higher returns to shareholders, has reportedly hired Bank of America to find minority partners...