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BP raises roughly $1 billion from Aker BP stake sale - Finance news and analysis from Global Banking & Finance Review
Finance

BP raises roughly $1 billion from Aker BP stake sale

Published by Global Banking & Finance Review

Posted on November 5, 2026

2 min read

· Last updated: November 5, 2026

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BP Raises Over $1 Billion from Aker BP Stake Sale, Cuts Debt and Streamlines Portfolio

BP Raises Over $1 Billion from Aker BP Stake Sale, Cuts Debt and Streamlines Portfolio

BP's Strategic Stake Sale in Aker BP: Key Details and Implications

Overview of the Transaction

Nov 5 (Reuters) - BP said on Thursday it has raised about $1.06 billion from selling a 5% stake in Norwegian oil and gas company Aker BP, as the British energy major streamlines its portfolio and cuts debt under CEO Meg O’Neill.

Stake Sale Breakdown

• The company has sold a 5% stake in Aker BP, out of its 15.9% holding, at 311 Norwegian Krone per share

• BP will now hold 68.7 million shares in Aker BP, or about a 10.9% interest, making it the Norwegian group's fourth-largest shareholder, according to LSEG data

CEO Statement and Strategic Rationale

• "We believe now is the right time for us to realize part of (Aker BP's) value to further strengthen BP's balance sheet, our first priority as we build a simpler, stronger, more valuable bp,” O’Neill said

Background and Future Outlook

Formation of Aker BP

• Aker BP was formed in 2016 when BP merged its Norwegian assets with Det norske oljeselskap, controlled by Norwegian billionaire Kjell Inge Roekke

BP's Divestment Plans

• BP on Thursday also forecast 2026 divestment and other proceeds to be around $9 billion, about $1 billion higher than it previously projected

Reporting Credits

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Subhranshu Sahu and Sonia Cheema)

Key Takeaways

  • BP sold a 5 percent stake out of its previously 15.9 percent holding in Aker BP at NOK 311 per share, netting around $1.06 billion (sec.gov).
  • Post-sale, BP retains roughly 68.7 million shares—around a 10.9 percent interest—making it the fourth‑largest shareholder in Aker BP (sec.gov).
  • CEO Meg O’Neill emphasized the timing as ideal for realizing value to fortify BP’s balance sheet; BP also raised its 2026 forecast for divestment and other proceeds by about $1 billion to approximately $9 billion (sec.gov).

References

Frequently Asked Questions

How much did BP raise from selling its Aker BP stake?
BP raised about $1.06 billion by selling a 5% stake in Aker BP.
What percentage of Aker BP does BP now own?
After the sale, BP holds about 10.9% of Aker BP's shares.
Why did BP sell part of its Aker BP stake?
BP sold part of its stake to strengthen its balance sheet, streamline its portfolio, and cut debt.
Who leads BP during this divestment?
BP is led by CEO Meg O’Neill during this phase of portfolio streamlining and debt reduction.
When was Aker BP formed?
Aker BP was formed in 2016 through a merger of BP’s Norwegian assets with Det norske oljeselskap.

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