BP Exits LPG Bottle Business Worldwide After Operational Review

BP Plc (BP/), Europe’s second-largest oil company, will exit its liquefied petroleum gas bottle- and tank- filling businesses worldwide after reviewing the operations last year.

The company plans to exit ventures in Portugal, the U.K., Austria, Poland, Netherlands, Belgium, Turkey, China and South Africa, “as well as its non refinery-integrated wholesale business” by the end of 2013, it said today in a statement. BP has just begun the sale process and hasn’t received any offers yet, Sheila Williams, a spokeswoman, said by phone. LPG bottles are designed for fueling houses or camper-vans.

BP will also sell LPG storage terminals, bottle-filling plants, logistical and some other assets. It will continue fueling cars with LPG in Europe and maintain wholesale outlets to support its refinery operations, the company said.

London-based BP declined to comment on the value of the proposed spinoff. It plans to sell assets worth $38 billion by the end of next year, it said today in a separate statement.

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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