Thursday, October 7, 2010

BP's (NYSE:BP) Algerian Assets Also Interest Gazprom

The BP (NYSE:BP) joint venture with Russian billionaires called TNK-BP, may have some other competition from mother Russia, as the giant Russian energy company Gazprom has said they would be amiable to looking at an acquisition of BP assets in Algeria.

"If the Algerian side offers these assets to us, we will consider this possibility," said the company in response to a question from a reporter.

Rumors have circulated for some time that TNK-BP was possibly interested in the Algerian assets of BP, with Chairman Mikhail Fridman confirming that was the case on Wednesday.

This is part of the divestiture of BP assets in order to raise up to $30 billion to pay for its mounting liabilities from the Gulf oil spill.

Assets held by BP in Algeria are valued at approximately $3 billion.

TNK-BP is also interested in assets held by BP in Venezuela and Vietnam.

1 comment:

Anonymous said...

Reports indicates that BP is about to launch its new PR campaign with the BPCares website. BP recently acquired the BPCares domains and plans to launch the website soon to battle the falsehoods by the media and the eco-sensitive strain.
In a memo leaked to reporters, BP's plan is to be repentful for the loss of jobs and resources to the people in the Gulf and to put forth a strategy moving forward. The domains that BP owns are:
The website is being beta tested and will be up soon.