BP sells assets to cover up Gulf oil spill costs.

BP has agreed to sell its share of an Argentina-based oil and gas company for $7.06 billion in cash, bringing to about $21 billion its total sales of assets to help cover costs stemming from the Gulf of Mexico oil spill.

Shell Oil Co., the U.S. arm of the European oil giant Royal Dutch Shell PLC, has put its South Texas gas fields on the block, and a sale could fetch roughly $1 billion, people familiar with the matter said.

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