BP sells down stake in New Zealand oil refinery

|About: BP p.l.c. (BP)|By:, SA News Editor

BP says it sold around half its ~20% stake in New Zealand Refining Co. for NZ$80.4M ($56.2M) as part of a global portfolio review.

BP does not disclose the buyer of the stake, but says it had retained a 10.1% interest in the company through local subsidiaries.

Exxon Mobil, via a subsidiary, and New Zealand's Z Energy Ltd. are the other major shareholders in New Zealand Refining.

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