Question · Q3 2025
Chris Copeland asked for updates on the divestment processes for Gelsenkirchen and Light Source, and inquired about any remaining midstream non-controlling interest (NCI) opportunities after the TANAP stake disposal.
Answer
Murray Auchincloss (CEO, BP) confirmed $1.7 billion in divestment proceeds received and $3.5 billion expected, noting strong interest in Castrol and Gelsenkirchen, with Light Source at an earlier stage. Kate Thomson (CFO, BP) clarified that no other significant infrastructure deals are anticipated, and NCI is expected to decrease, particularly with hybrid redemptions.