BASF Said to Consider Bid RWE Oil and Gas Operations

BASF SE is considering a bid for the oil-and-gas exploration assets put up for sale by German utility RWE AG, according to people with knowledge of the situation.

Wintershall, BASF’s oil and gas production unit, discussed the potential deal to buy part of RWE Dea with investment banks, said the people, who declined to be identified because talks are private. The BASF unit may be interested in sites in Norway and the North Sea, including ones on which it already cooperates with RWE Dea, three of the people said. German sites may also be considered, two of the people said said.