logo
Plus   Neg
Share
Email

Equinor Agrees With BP To Sell 50% Non-operated Interests In Empire Wind, Beacon Wind Assets

Equinor (EQNR) announced that it has agreed with BP (BP,BP.L) to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of US$1.1 billion.

Through this transaction, the two companies are also establishing a strategic partnership for further growth within offshore wind in the US.

BP's acquisition of the interests in Empire Wind and Beacon Wind has an effective date of January 1, 2020 and is expected to close in early 2021, subject to customary conditions including purchase price adjustments and authority approval.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT