BP expects $2-$3 bln charge as it near divestment target

LONDON, Oct 11 (Reuters) - BP expects to hit its $10
billion disposal programme by the end of 2019, almost one year
ahead of schedule, which will however result in a $2-$3 billion
charge in the third quarter.

As a result of the agreed divestments, BP expects to take a
non-cash, non-operating, after-tax charge of $2-3 billion in its
third quarter results, it said.

The London-based company said in a statement that it expects
to agree on $10 billion of asset sales following the $5.6
billion sale of its Alaskan business to Hilcorp, announced this
year, as well as divestments in its U.S. shale gas business.

BP announced the disposal programme following its $10.25
billion acquisition of BHP's shale business last year, its
largest acquisition in three decades.
(Reporting by Ron Bousso; editing by Jason Neely)