Wednesday, July 28, 2010

Major BP (NYSE:BP) Assets Not of Interest to Eni SpA (NYSE:E)

Italian natural gas and oil giant Eni SpA (NYSE:E), said in a statement today that they aren't interested in acquiring major assets BP is putting on the selling block.

Claudio Descalzi, head of Eni's exploration and production division, siad the company has no "need to buy any producing assets."

Eni itself is looking to shed between $3 billion to $4 billion of its own assets, and is looking toward Indonesia and Egypt as the markets they're interested in expanding into.

CEO Paolo Scaroni noted on the conference call that Eni is looking for buyers of about $4 billion of their assets at this time.

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