BP p.l.c. filed a Form 6-K with the SEC on 5 November 2026 disclosing the sale of a 5% stake in Aker BP at NOK 311 per share, raising gross proceeds of approximately NOK 9.83 billion ($1.06 billion).

Key Highlights

  • Stake sold: BP sold 5% of its 15.9% shareholding in Aker BP at a price of NOK 311 per share.
  • Gross proceeds: The transaction raised approximately NOK 9.83 billion ($1.06 billion), according to the filing.
  • Remaining holding: Following the sale, BP will hold 68.7 million shares in Aker BP, representing an approximate 10.9% interest.
  • Lock-up agreement: BP has entered into a 90-day lock-up for its remaining Aker BP shares, subject to customary exemptions.
  • Revised divestment guidance: BP now expects full year 2026 divestment and other proceeds to be around $9 billion, approximately $1 billion higher than previously guided.
  • Bookrunners: Barclays acted as Sole Global Coordinator and Bookrunner; DNB Carnegie acted as Co-Bookrunner.

BP Reduces Aker BP Position to 10.9% in NOK 9.83 Billion Transaction

According to the Form 6-K filed by BP p.l.c. (NYSE:BP) on 5 November 2026, the company completed the sale of 5% of its existing 15.9% stake in Aker BP, a Norwegian oil and gas producer. The shares were sold at NOK 311 per share, generating gross proceeds of approximately NOK 9.83 billion, equivalent to approximately $1.06 billion. The filing does not specify the exact number of shares sold in the transaction beyond the percentage terms described.

After completion of the sale, the filing states that BP will hold 68.7 million shares in Aker BP, representing an approximate 10.9% interest. BP has agreed to a 90-day lock-up on its remaining shares, subject to customary exemptions. The filing states that proceeds from the sale "will go towards strengthening bp's balance sheet" and that BP now expects full year 2026 divestment and other proceeds to be around $9 billion, around $1 billion higher than previously guided.

The filing includes a statement from Meg O'Neill, identified as chief executive officer of BP, characterizing the sale as an opportunity to "realize part of this value to further strengthen bp's balance sheet." The filing notes that the press release contains forward-looking statements subject to risks and uncertainties, as described in BP's cautionary language and its most recent Annual Report and Form 20-F. The filing was signed by Alasdair Murray, Interim Company Secretary, on behalf of BP p.l.c.

What Was Disclosed

BP p.l.c. disclosed via a Form 6-K the completed sale of a 5% stake in Aker BP at NOK 311 per share for gross proceeds of approximately NOK 9.83 billion ($1.06 billion), leaving BP with an approximate 10.9% interest and a 90-day lock-up on remaining shares.