MARKET TALK: BP Not Lacking For Potential SWF Backers -EnergyQuote

7th Jul 2010 13:15

1215 GMT [Dow Jones] There's considerable potential for resource rich countries, with vast sovereign wealth, like Libya, Kuwait or Abu Dhabi, to invest in BP (BP), says John Hall, chairman of EnergyQuote. But a "serious bidder for BP or any part of it will no doubt require absolute secrecy and discretion for fear of talking the price up before making a bid." Reckons with the current extensive oil leak from the Gulf of Mexico still gushing, BP is not only vulnerable to excessive long term claims from third parties but also from the US government and the fund recently set up at $20 billion may eventually be surpassed. "Therefore BP needs to make provision now to raise more funds," says Hall. BP shares +4.5% at 361p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 07, 2010 08:15 ET (12:15 GMT)