BP to sell Pakistan ops for oil spill cash

BP will sell virtually all its Pakistan exploration and production business as it raises funds to pay for the Gulf of Mexico disaster.

The $775 million (£488 million) sale to United Energy Group forms part of BP's plans to rack up $30 billion through disposals by the end of next year to settle the clean-up costs, compensation and fines.

BP has agreed sales worth around $21 billion so far.