BP may sell some global assets to RIL: report
British Petroleum will discuss divesting some of its assets in Europe and North America to Reliance Industries as it seeks to deepen its partnership with India's largest private sector company, a financial daily reported on Thursday, citing the Brtish group's chief executive.
Bob Dudley told the newspaper the company had announced $25 billion to $30 billion worth of divestments and would continue to manage its portfolio with more asset sales.
BP had acquired a 30% stake in 23 oil and gas blocks in India from Reliance earlier this year, in a deal worth $7.2 billion.
Reliance Chairman Mukesh Ambani had said on Wednesday the company's partnership with BP would not be limited to India, but was initially focusing only on opportunities in the country.
"...I will sit down with Mukesh and the team at Reliance and see what their aspirations are and there may be prospects there," Dudley, who met with Indian government officials in New Delhi on Wednesday, was quoted as saying by the daily.
"There might be some divestments, they might be joining us in some projects, or it could be that we identify new projects together— acquisitions, entry into other kinds of projects, so I think all the scope is there," he told the newspaper, adding there was potential for some in North America and Europe.
Reliance and BP in India were not immediately available for comment on the report.
ALEEM AHMED
PGDM 3rd Sem
Bob Dudley told the newspaper the company had announced $25 billion to $30 billion worth of divestments and would continue to manage its portfolio with more asset sales.
Reliance Chairman Mukesh Ambani had said on Wednesday the company's partnership with BP would not be limited to India, but was initially focusing only on opportunities in the country.
"...I will sit down with Mukesh and the team at Reliance and see what their aspirations are and there may be prospects there," Dudley, who met with Indian government officials in New Delhi on Wednesday, was quoted as saying by the daily.
"There might be some divestments, they might be joining us in some projects, or it could be that we identify new projects together— acquisitions, entry into other kinds of projects, so I think all the scope is there," he told the newspaper, adding there was potential for some in North America and Europe.
Reliance and BP in India were not immediately available for comment on the report.
ALEEM AHMED
PGDM 3rd Sem