Apollo Global to acquire 25% stake in BP Pipelines for $1 billion

EditorMaria Ponnezhath
Published 03/21/2025, 05:12 PM
© Reuters.

Investing.com -- BP (NYSE:BP) announced on Friday that managed funds from U.S.-based asset management firm Apollo Global will acquire a 25% non-controlling stake in BP Pipelines (TANAP) for about $1 billion.

The move comes as part of BP’s major strategy shift announced in February, which aims to increase earnings and restore investor confidence.

In addition to this transaction, BP stated that it will continue to investigate further possibilities for cooperation with Apollo Global.

These potential areas of collaboration include infrastructure, gas, and low carbon energy assets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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