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NEW YORK — BP PLC said Tuesday it is selling assets in the U.S., Canada and Egypt to Apache Corp. for $7 billion to help pay the costs from the Gulf of Mexico oil spill.
Some or all of the proceeds will go toward a $20 billion fund that BP agreed to last month under pressure from the Obama administration. The fund will help pay for the spill’s cleanup and damages.
BP said the assets include oil fields and gas-processing plants in Texas and southeast New Mexico, BP’s upstream Western Canadian gas business and oil-exploration and production assets in Egypt.
