British Petroleum will raise about $2.4 billion...

British Petroleum will raise about $2.4 billion by selling new shares as part of a major restructuring. The oil giant said the shares will be sold this fall in conjunction with the government’s planned sale to the public of its existing 31.7% stake in the company. The restructuring follows British Petroleum’s purchase in May of 45% of Standard Oil that it did not already own for about $7.9 billion in cash and securities. To finance the deal, the firm took on about $5 billion in debt, of which about $3.5 billion already has been repaid. The stock offering will reduce the company’s debt further, a spokesman said.