Bp Amoco: This Giant Sure Has A Big Appetite

BP Amoco's bid for Arco sets a new pace for consolidations

Sir John Browne is no stranger to Alaska's North Bay--or to Atlantic Richfield. One of his first jobs at British Petroleum was helping to design part of the Alaska pipeline. And as chief executive of British Petroleum Co. Exploration in the early 1990s, Browne traveled often to Prudhoe Bay, where BP and Arco operated a joint drilling venture. Now, those visits have come in handy. As CEO of BP Amoco PLC, Browne is headed back to those roots--in a surprise megadeal to acquire Arco and expand BP's oil and gas assets in Alaska and elsewhere.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.