Wednesday, June 30, 2010

TNK-BP Could Buy BP (NYSE:BP) Assets

One strategy BP (NYSE:BP) is sure to have to employ before the oil spill fiasco is over will be to sell off some of its assets in order to generate more liquidity for the company.

To that end, Russian joint-venture partner TNK-BP said it would take into consideration buying some of the assets held by BP when they are put on sale.

Maxim Barsky, who is deputy chief executive of the joint venture, said he and BP CEO Tony Hayward discussed this when he recently met in Moscow to talk with TNK-BP's chairman Mikhail Fridman.

Hayward did say on the same trip, to Russia's leading energy official, Igor Sechin, that BP had no plans to sell any of its assets in the country.

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