BP sells slice of African operation for $296m

BP has announced that it has agreed to sell 50 per cent interest in each of BP Malawi and BP Tanzania to Puma Energy for $296m (£183m).

The deal also includes its fuels marketing businesses in Namibia, Botswana and Zambia.

"With the experience and existing businesses of their owners in the region and elsewhere , we believe that Puma Energy should be able to build on these good assets and grow the businesses further in line with the strong economic outlook for the area and in the best interests of all key stakeholders," said Sipho Maseko, chief executive of BP Southern Africa."