BP said yesterday that it will sell most of its assets in Vietnam and Pakistan in order to accelerate the divestiture of assets worth up to 20 billion U.S. dollars to ease the financial concerns of the market after its oil spill in the Gulf of Mexico. The assets sold in these two countries account for 2.7% of the current 8.5 billion cubic feet of natural gas produced by British Petroleum. According to the report, BP has sent staff and government officials to the two places to plan to sell all assets other than the Castrol lubricants business. The Lan Tay and Lan Do fields to be sold in Vietnam, as well as the associated Nam Con Son gas pipeline and Phu My 3 pipeline. According to a report quoted by ING analysts, these assets are valued at approximately US$1.7 billion and indicate that BP is expected to sell non-core assets worth US$45-50 billion.
In addition, BP is also discussing with the United States Apache to sell 12 billion U.S. dollars worth of assets, and to negotiate the sale of Argentina’s Pan American Energy’s approximately 6 billion U.S. dollar shares, and Colombia’s oil and gas fields with Venezuela.
In addition, BP is also discussing with the United States Apache to sell 12 billion U.S. dollars worth of assets, and to negotiate the sale of Argentina’s Pan American Energy’s approximately 6 billion U.S. dollar shares, and Colombia’s oil and gas fields with Venezuela.
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