BP CEO Tony Hayward might not last long enough to see the eventual fate of BP. If rumors of Hayward's death as CEO of the underwater oil company are not greatly exaggerated, another slide from the March BP investor presentation highlights some pretty big risk-management failings.
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BP has invested more than $14 billion in the Gulf of Mexico since 1994, according to company data.
A case can be made that if BP is looking to sell individual assets, the Gulf of Mexico would be a good place for the oil company to focus its efforts based on the theory of killing two birds (forgive the unfortunate metaphor in this case) with one stone. BP has a big portfolio from which to choose in the Gulf, and it may be in an unpalatable political position for some time to come, to say the least, in terms of executing on a major deepwater strategy in U.S. waters.
Alaska is a U.S. oil and gas producing region for BP in which it has older assets, and BP's stake in Prudhoe Bay has been front and center in speculation about holdings that BP could sell.
Among North American assets slated for growth, it may be the Northern neighbor to the east of Alaska where a lucrative asset can be sold by BP.
Some big BP projects yet to bear fruit, like the Canadian oil sands, would probably be hard to part with given the untapped potential. The Rumaila project in Iraq might is an example of an asset that would be attractive to suitors, but one which BP might be reluctant to sell.
Another huge BP holding in a politically volatile area is its 50% stake in TNK-BP, Russia's third largest oil company, which accounts for 17% of the country's oil production.
With some of BP's global assets, a primary distinction in willingness to sell could come down to whether BP is a primary operator.
Oil Spill in Photos
|Oil Spill in Photos |
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