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Converting phony dollars to real oil for China's exclusive use. China should thank Obama for that great bargain. LOL
BP is selling real oil for phony money. The Fed could have printed that money and truck it out to Americans.
Obama is better than Bush by giving oil away FOC.
BP is selling real oil for phony money. The Fed could have printed that money and truck it out to Americans.
Obama is better than Bush by giving oil away FOC.
BP May Sell Stake In Argentina's Pan American Energy to China National Offshore Oil Corporation Limited
BUENOS AIRES (Dow Jones)--BP PLC (BP, BP.LN) is actively considering the sale of its stake in Pan American Energy LLC, Argentina's fastest growing oil and gas company, a person familiar the situation said Friday.
BP said in March that it would sell assets totaling between $2 billion and $3 billion. In June the company increased that figure to up to $10 billion, and said it planned to sell assets over the next year.
A spokesman for BP declined to say which assets the company might be interested in selling.
"We're going through a process of identifying assets that we will sell or look to sell over the next 12 months," said Toby Odone, a BP spokesman in London. "While that process is going on we won't talk about any of those assets."
The person who confirmed BP's interest in selling its stake in Pan American Energy asked for anonymity given the ongoing nature of the situation.
In March the Argentine oil and gas company Bridas Energy Holdings, or BEH, confirmed that China National Offshore Oil Corporation Limited, or Cnooc (CEO, 0883.HK), would take 50% stake in its Bridas Corporation subsidiary.
The two companies struck a preliminary agreement enabling BEH, which currently owns all of Bridas Corp., to share strategic and management decisions with Cnooc subsidiary Cnooc International Limited.
Cnooc said it would pay $3.1 billion for the 50% stake.
Bridas has hydrocarbons operations in Argentina, Bolivia and Chile and is developing projects in different parts of the world.
Bridas' portfolio includes a 40% stake in Pan American Energy LLC, which operates in southern South America.
The other 60% of Pan American is held by BP.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com
BUENOS AIRES (Dow Jones)--BP PLC (BP, BP.LN) is actively considering the sale of its stake in Pan American Energy LLC, Argentina's fastest growing oil and gas company, a person familiar the situation said Friday.
BP said in March that it would sell assets totaling between $2 billion and $3 billion. In June the company increased that figure to up to $10 billion, and said it planned to sell assets over the next year.
A spokesman for BP declined to say which assets the company might be interested in selling.
"We're going through a process of identifying assets that we will sell or look to sell over the next 12 months," said Toby Odone, a BP spokesman in London. "While that process is going on we won't talk about any of those assets."
The person who confirmed BP's interest in selling its stake in Pan American Energy asked for anonymity given the ongoing nature of the situation.
In March the Argentine oil and gas company Bridas Energy Holdings, or BEH, confirmed that China National Offshore Oil Corporation Limited, or Cnooc (CEO, 0883.HK), would take 50% stake in its Bridas Corporation subsidiary.
The two companies struck a preliminary agreement enabling BEH, which currently owns all of Bridas Corp., to share strategic and management decisions with Cnooc subsidiary Cnooc International Limited.
Cnooc said it would pay $3.1 billion for the 50% stake.
Bridas has hydrocarbons operations in Argentina, Bolivia and Chile and is developing projects in different parts of the world.
Bridas' portfolio includes a 40% stake in Pan American Energy LLC, which operates in southern South America.
The other 60% of Pan American is held by BP.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com