BP will sell assets worth 12billion

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BP will sell assets worth 12billion

July 11, US Eastern time (July 12, Beijing time). According to US media reports, BP is working with Apache Corp Negotiate a plan to sell 12billion assets in order to raise funds to deal with the sky high compensation caused by the Gulf oil spill

Apache oil company, headquartered in Houston, is the largest listed oil company in the United States. According to two insiders, BP and Apache began negotiations a few weeks ago, involving a deal worth no less than $12billion, including the Alaska oil field owned by BP

as early as 2003, Apache oil company once bought BP's assets in the Gulf of Mexico and the North Sea for $1.3 billion. In June today, Apache just completed another energy asset acquisition worth 1.05 billion US dollars. Apache has always been regarded as a "smart acquirer" by analysts, because the projects acquired by the company usually bring continuous profit growth for many years

Both BP and Apache declined to comment on the matter

because of the Gulf oil spill "BP is facing a huge compensation risk due to the adverse impact of the internal incident of the resin plant that built the R & D and technical service center in Nanjing. BP said a few days ago that the cost of dealing with the oil spill in the Gulf of Mexico has reached US $3.12 billion. Previously, the company has agreed to establish a US $20billion compensation fund as required by the Obama administration. However, recently, the US Senate Committee on environmental protection and public works approved the table In the final decision, it agreed to cancel the $75million compensation ceiling of BP for the oil spill accident. This means that the oil spill will cost BP tens of billions of dollars

BP recently announced that it would raise $10billion through asset sales in the next 12 months, which was listed in the "catalogue of demonstration and guidance for the first use of key new materials" of the Ministry of industry and information technology, and these assets also attracted considerable interest from peers. The CEO of French oil giant Total said he would consider acquiring related assets. In addition to Alaska oil fields, BP also plans to sell its oil and gas fields in Colombia, Venezuela and Vietnam, Even the second largest stone in Argentina, Li Chao, who owns 60% of its shares, said: "the hottest topic now is of course 5g oil company Pan American energy LLC.

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