BP sells stake in China gas field

Oil giant BP yesterday announced that it is to sell an interest in a Chinese gas field in a $308m (£189m) cash deal. The sale of its 34.3 per cent interest in Yacheng, in the South China Sea, to Kuwait Foreign Petroleum Exploration Company is part of BP’s ongoing divestment programme. The sale of Yacheng takes BP's total divestments announced since 2010 to $37.8bn. BP said yesterday it will continue to work in the nation.