Energy giant PTT buys Oman gas stake from BP for B78 bn

BP Plc will sell a stake in an Omani gas block to Thailand’s national energy firm for $2.6 billion (77.8 billion baht).

PTT Exploration and Production Public Co Ltd has agreed to pay the sum for 20% of Block 61, according to statements from both companies on Monday.

The deal should help BP deliver on its goal of selling $25 billion of assets by 2025 to ease its debt burden. Like other oil majors, it must contend with the demand for crude gutted by the coronavirus. The company has pledged to eliminate most of its greenhouse gas emissions over the coming decades.

In September, BP cut its dividend for the first time in a decade, and its share price plunged to a 25-year low after Chief…