Tuesday, August 3, 2010

1.19 billion pounds traded for Colombian business by BP

BP's sketch to trade up to 30 billion dollars of possessions, as it faces towering costs from the Gulf of Mexico oil spill disaster.

BP today announced that it has decided to trade its oil and gas exploration, manufacture and transportation business in Colombia to a consortium of Ecopetrol, Colombia's national oil company, and Talisman of Canada," it said in a declaration.

"The two companies will reimburse BP a total of 1.19 billion pounds in cash for 100 per cent of the contribute to BP Exploration Company Limited, the wholly owned BP additional company that holds BP's oil and gas exploration, construction and transportation awareness in Colombia."

BP alleged last week that the Gulf coast oil disaster will cost it 20.1 billion pounds and that it would trade more than 30 billion dollars of benefits over the next 18 months to facilitate cover the bill.

The company decided last month to trade assets in the United States, Canada and Egypt to Apache Corporation for seven billion dollars and has told Pakistan and Vietnam it plans to deny its upstream interests in those countries, the report said.

Oil giant BP alleged on Tuesday it will trade its Colombian business for a total of 1.19 billion pounds to national oil company Ecopetrol and Talisman of Canada.

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