It seems to be going well for BP, with this sale following on nicely from the Apache deal. BP offloads non-core assets regularly, so has had some practice. TNK would like to expand too, so it’s a good move for it.
MARK PRIEST | ETX CAPITAL
BP doesn’t particularly want to be making these sales, but it doesn’t have much choice. On the other hand, the company doesn’t seem in as much trouble as it did a few months ago, and it is managing to raise cash.
GREG SMITH | FAT PROPHETS
By selling to TNK-BP, BP still has an interest in the assets it has offloaded. It doesn’t feel like it has sold the crown jewels of the company just yet, and BP is getting fair prices without a sense of urgency in the deals.