BP looks to scale back with UK asset sell-off

Oil major to offload its terminals in Belfast, Hamble and Northampton along with stakes in UKOP and Kingsbury

BP
(Image credit: Spencer Platt/Getty Images)

BP has announced plans to sell a range of UK assets and outsource its logistics operations as it continues to scale back its operations after low oil prices and weak profits.

On the block is the company's stake in the United Kingdom Oil Pipeline (UKOP), reports the Daily Telegraph, which connects the Stanlow oil refinery in Cheshire to Heathrow and Gatwick airports. BP co-owns the line with Shell, US firm Valero and French giant Total.

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