British oil major BP (BP.L) has agreed to discount the price of the North Sea assets it is selling to Premier Oil (PMO.L), Premier said on Friday. Under the new deal, Premier only has to pay $115 million out of the initial price of $625 million if oil prices, which have slumped around 40% this year and currently stand at around $40 a barrel, rise above $55 a barrel. The agreement also reduces Premier’s liability for field abandonment to $240 million from $600 million. The revised price highlights how the crude price collapse is forcing sellers of oil and gas asset to compromise. “The structure of the consideration ... (full story)