BP to Sell Malaysian Assets for $363M
Stock quotes in this article:BP
NEW YORK (TheStreet) -- BP(BP) said Wednesday it agreed to sell its interests in ethylene and polyethylene production in Malaysia for $363 million.
The buyer is Petronas, Malaysia's national oil company. BP holds a 15% interest in Ethylene Malaysia Sdn Bhd, and a 60% interest in Polyethylene Malaysia Sdn Bhd, both of which are operated by Petronas. BP said the sale, which is expected to be completed by the end of 2010, doesn't affect its other businesses in Malaysia. The sale is part of BP's efforts to raise cash to pay for costs related to the oil spill in the Gulf of Mexico. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,914.26 | 1,354.13 | 2,927.13 | 20.50 |
Oil *
118.13
|
|
UP
30.31 |
UP
4.17 |
UP
11.27 |
UP
0.75 |
10 Yr
2.05%
SPDR Gold
168.40
|
|
+0.24%
|
+0.31%
|
+0.39%
|
+3.80%
|
Data delayed 20 minutes |
Connect with TheStreet