Related Articles
BP CEO Bernard Looney
Forward article link
Share PDF with colleagues

BP’s Angolan JV could provide future template

The major’s pooling of non-core resources with Italy’s Eni may be a model moving forward

BP’s plans to spin off its Angolan assets into a combined vehicle with those of Eni “make eminent sense”, according to the firm’s, CEO Bernard Looney. “These always made sense. They probably make even more sense going into the future,” he says. “And you should expect us to continue to search for creative ways to make sure that hydrocarbons inside our business are as resilient as possible. We will be innovative in how we go about that,” Looney continues. This suggests that other standalone vehicles—where BP retains a financial stake in formerly owned assets combined with those of other operators—could be part of its arsenal alongside divestments in areas outside of its identified core areas.

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Trinidad scrambles to prevent gas nosedive
17 September 2021
The country’s production has been freefalling for years, but expected startups will not be enough to avert further long-term losses
Nigerian reforms leave lingering doubts
16 September 2021
Questions remain over some specifics of the recently passed Petroleum Industry Bill and whether the reforms will be enough to jumpstart the country’s stalled upstream
Tullow-led joint venture reveals revised Kenya plans
16 September 2021
Kenya’s ambitions to become a crude exporter might be back on track, as Tullow and partners have revised their Turkana plans
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video