BP exits Alaska but leaves behind long Arctic oil legacy

S&P GLOBAL PLATTS | Dwindling prospects, in its view at least, changes in corporate strategy, the failure to commercialize large stranded gas reserves and Alaska’s volatile politics and frequent changes in taxes all appear to have played a role in the company’s decision to sell its legacy North Slope holdings.

BP left a long legacy in Alaska, spearheading the exploration in the early 1960s that ultimately led to the discovery of Prudhoe Bay, North America’s largest oilfield.

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