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BP Plans to Sell Archaea Energy as Profit Gains Rise

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BP’s earnings were boosted by higher crude, natural gas, and refined fuel prices during the Iran-related conflict. Alongside results, BP announced plans to sell Archaea Energy, acquired in 2022 for about $4 billion, and recorded another impairment tied to low-carbon operations. CEO O’Neill said BP is reviewing the business to improve performance, with net debt expected below $18 billion by year-end.

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