I’ve heard rumors that more divestments are coming soon, and they will be a surprise - in line with the petchems divestment
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I heard an announcement is coming this week
Today, BP sold $700 million of BPX to sends product to Whiting Refinery. John D Rockefeller became a billionaire because from creating a pipeline. He knew what he was doing and you can clearly see Looney tunes doesn’t.
I loved working on BP Divestments. BP spent $16 Billion to modernize Texas City Refinery only to sell it for $4 billion to Marathon. Then Marathon sued BP for the handy of SAP extraction.
Then there is Arco. BP purchased Arco for $4 billion
Only to sell it $700 million.
This is how you lose money.
Toothpaste Factory at the headquarters will definitely be divested as the management culture does not support dental hygiene.
My guess is the lubricants business, if they can find anyone prepared to take it on.
Everything is for sale if the price is right. My guess is BPX will be spun off completely as a separate company. Just does not fit with Bernie's delusion......I mean vision.
Couple of refineries maybe? Or Angola?