Will China Rescue BP (NYSE:BP)?

There is growing interest in the possibility of a Chinese oil company coming to the rescue of BP (NYSE:BP), or at least taking them over, depending on how you view the situation.

Of course it's highly unlikely BP would what something like that to happen, although it's on the fringe of possibility depending on the outcomes of the liability they may face after things become clearer in that regard.

At this time estimates are they could be liable anywhere from $20 billion to $40 billion before it's all over.

One Chinese oil company name thrown around is PetroChina, which if they did acquire BP, would become a global oil giant themselves, although they're already moving toward that status.

This is all conjecture, but once liability is more clear, BP could become a very desirable and vulnerable target for a takeover, although they still remain fairly strong for now, in spite of the struggles they're going through.