Tuesday, September 7, 2010

BP's (NYSE:BP) Norway Manager Not Aware of North Sea Sales

Conflicting reports have emerged concerning BP's (NYSE:BP) alleged interest in selling North Sea assets, along with a report over the weekend in the Sunday Times they were increasing their asset sales target from $30 billion to $40 billion.

Rebecca Wiles, who is BP's Managing Director for Norway, said she wasn't "aware" that there were any plans in place to sell North Sea assets of BP to help raise the $30 billion they've mentioned as their target in the past concerning liabilities and costs to clean up the region.

Wiles said concerning North Sea asset sales, “I’m not aware of us lining up any assets in the North Sea. We’re a growing business in Norway.”

As far as the increasing of the target number from $30 billion to $40 billion, Wiles added she hadn't heard anything about that either.

Being in Norway, it's possible Wiles isn't in the loop on these things, so it may or may not be important as to the actual plans BP may be initiating.

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