BP Approaches State-Owned Energy Majors in Bid to Offload Russia Assets
- U.K. oil giant approaches CNPC, Sinopec about Rosneft stake
- BP also reaches out to Mideast, Indian firms on Russian assets
Photographer: Chris Ratcliffe/Bloomberg
This article is for subscribers only.
BP Plc has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets, people with knowledge of the matter said.
The U.K. energy giant has made preliminary approaches to China National Petroleum Corp. and Sinopec Group about the planned sale of its roughly 20% stake in Russia’s Rosneft PJSC, according to the people. It has selectively reached out to some potential buyers in the Middle East, the people said, who asked not to be identified because the information is private.