BP May Sell Venezuela Oil Stakes to Russian Venture.
BP said July 27 it plans to dispose of as much as $30 billion in assets in the next 18 months, after reporting a record second-quarter loss because of the costs of the Gulf of Mexico oil spill. BP is in talks with TNK-BP over the sale of a $1 billion package of Venezuelan projects, the Times reported earlier today, without saying where it got the information.
“TNK-BP views this as an opportunity to further develop its international business portfolio and expand its presence in Venezuela,” TNK-BP spokesman Nikolay Gorelov said by e-mail today.
The Moscow-based company, which is half owned by BP, supports moves by the U.K. company to “strategically realign” its asset base in Venezuela and is examining the opportunity, Gorelov said.