BP To Divest Renewable Energy Assets Worth $6.9 Billion - AHN

London, England (AHN)- BP announced Thursday that it plans to re-focus its oil business by selling its renewable energy assets, its solar, wind and biofuels units, which is estimated to be worth $6. BP PLC Chief Executive Tony Hayward said it would focus instead in oil production. He promised to increase oil production and improve results within its refining and marketing division. Analysts said that BP was under pressure to retain its alternative energy business, even at a loss, due to pressure from the government concerning environmental issues. read more

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