The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE: Four Indian Oil Companies To Jointly Bid For BP Vietnam Assets

Tue, 27th Jul 2010 15:30

(Adds comments from executives, details) By Rakesh Sharma and Vu Trong Khanh Of DOW JONES NEWSWIRES NEW DELHI (Dow Jones)--A consortium of four Indian state-run companies will likely join with Vietnam Oil and Gas Group, or PetroVietnam, to buy BP PLC's (BP) stake in the Nam Con Son gas project in the Southeast Asian nation, executives at the companies said. "The approach and goal is to combine our strengths with PetroVietnam," Oil India Ltd. (533106.BY) Chairman, N.M. Borah, told reporters on the sidelines of a conference. Apart from Oil India, the consortium includes GAIL (India) Ltd. (532155.BY), Oil & Natural Gas Corp. (532155.BY) and Indian Oil Corp. (530965.BY). BP Tuesday said it plans to sell up to $30 billion of its assets over the next 18 months in an effort to fund the mounting costs of cleaning up the Gulf of Mexico oil spill. This includes its natural gas assets in Vietnam. BP holds a 35% stake in gas block 06.1 in Vietnam, which is a part of Nam Con Son gas project. ONGC's overseas investment arm, ONGC Videsh Ltd., holds a 45% stake in the gas block and PetroVietnam holds 20%. BP also holds a stake in a pipeline and a power project that utilizes the gas. ONGC's Chairman, R.S. Sharma, Tuesday said a meeting has been held with officials of PetroVietnam and "the results have been encouraging." An official at PetroVietnam said the state-run company is considering buying part of BP's assets. "We are considering (the purchase), but nothing else can be said at this stage," the official, who didn't want to be named, said in Hanoi. Oil India's Borah said the consortium plans to bid with PetroVietnam as the Southeast Asian company has the right of first refusal, and the assistance of a local company would be helpful in Vietnam. Borah said that since the Nam Con Son gas project involves a gas-producing block, a power project and pipelines, the consortium would be in a much better position to bid for the assets. -By Rakesh Sharma and Vu Trong Khanh, Dow Jones Newswires; +91-11-4356-3334; rakesh.sharma@dowjones.com (END) Dow Jones Newswires July 27, 2010 10:30 ET (14:30 GMT)
More News
9 Apr 2024 07:24

BP sees higher Q1 upstream production

(Sharecast News) - Oil giant BP said it expected first-quarter upstream production to be higher than the previous three months.

Read more
5 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks drop on Israel-Iran tensions and Fed talk

(Alliance News) - Stock prices in London were firmly down at midday on Friday, as rising tensions between Israel and Iran alongside doubts around the timing of US interest rate cuts hurt investor sentiment.

Read more
5 Apr 2024 08:47

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:55

European oil stocks gain on expectations for higher demand, supply concerns

Read more
28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

Read more
27 Mar 2024 20:59

New England offshore wind auction draws multiple bidders

March 27 (Reuters) -

Read more
27 Mar 2024 12:47

Ithaca Energy gets bid rights on Eni's UK assets, profit slips

March 27 (Reuters) - Ithaca Energy has been given a four-week exclusivity period by Italy's Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.

Read more
27 Mar 2024 09:01

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.