BP sells Gulf of Mexico fields to pay for oil spill

By Osamu Tsukimori and Risa Maeda – BP agreed to sell four fields in the deepwater of the Gulf of Mexico to Japan’s Marubeni Corp for $650 million, as the oil major seeks to raise cash to pay for its oil spill in the region.

BP has committed to selling up to $30 billion in non-core assets to pay for the clean up of the U.S.’s worst ever oil spill, and to compensate victims.