BP Mulls Selling String Of Assets In Latin America - Sky News

24th Jun 2010 17:25

LONDON (Dow Jones)--BP PLC (BP) is actively considering offloading a string of assets in Latin America, including stakes in joint ventures in Venezuela and Colombia, Sky TV reports Thursday. The largest asset under consideration is a $9 billion stake in Argentina-based Pan American Energy, which it jointly runs with a state-owned Chinese oil producer, Sky's business editor Mark Kleinman said. He didn't name the Chinese company. BP is still in the early stages of evaluating which assets to sell and no decisions have been made. The company is looking at a timetable of about 12 months, with particular focus on Latin America, and is looking at assets that it operates with a partner in order to facilitate a faster sale, Kleinman said. The move is the latest step in BP's efforts to shore up its finances in the face of the Gulf of Mexico oil spill crisis, Sky said. Sky News Web site: http://www.sky.com/news -London bureau, Dow Jones Newswires; +44 (0)20 78 42 9330; [email protected] (END) Dow Jones Newswires June 24, 2010 12:25 ET (16:25 GMT)