FTSE 100 movers: Kingfisher surges on guidance upgrade; BP, Ithaca gush lower

BP has agreed to sell its French electric vehicle (EV) charging business to Sorégies, according to a company spokesperson. The deal is part of BP's strategy to streamline its operations and focus on core businesses.

BP p.l.c. agreed to sell a 5% stake in the Browse Project to Osaka Gas, reducing its ownership to 34.33%. The transaction, pending approvals, aligns with BP's strategy to reduce debt to $14-$18B by 2027 and high-grade its portfolio. BP retains exposure to the project while sharing future investment risks. The deal supports BP's balance sheet discipline and long-term gas development goals.

BP's Brazilian unit, advised by Mattos Filho, is selling a 50% stake in a Santos Basin exploration block to Shell Brasil Petróleo. The deal involves a major oil asset transfer between two energy companies.

BP is selling a 5% stake in the proposed $35 billion Browse gas project to Osaka Gas. Woodside Energy, the project's operator, announced the deal. This transaction is part of BP's strategy to divest non-core assets.

BP, Valero, and Chevron secured fuel contracts with the U.S. Defense Logistics Agency. BP's contract is valued at $601.9 million, Valero's at $432.2 million, and Chevron's at $418 million. The one-year contracts are fixed-price with economic-price adjustments.

A federal judge struck down New York's 'Climate Superfund' law, ruling it was pre-empted by federal law. The law aimed to make large energy companies, including ExxonMobil and Chevron, pay $75 billion over 25 years for climate-related infrastructure. The decision follows similar rejections in other states. The U.S. Supreme Court will hear a related case in October.