BP Said to Seek Bids for $2 Billion in U.S. Infrastructure
04.23.2015 By Jacob van den Berge - NEWS

In the last two weeks, BP sent offering materials to potential buyers of two batches of assets: Its interest in four pipelines and a gas plant along the Gulf of Mexico, and 15 storage terminals in the Midwest and on the East Coast, said the people, who asked not to be identified because the matter is not public.

BP is following Chevron Corp., and Royal Dutch Shell Plc in selling infrastructure that helps move and store oil and gas, in order to raise money that can fund drilling. These types of assets are relatively easy to sell because their fee-based business models insulate them from swings in commodity prices.

“BP successfully serves two-thirds of its customers’ fuel demand needs via third-party terminals throughout our marketing area,” Scott Dean, a spokesman for the company wrote in an e-mail. “Given the success of this model, we’re exploring the divestment of additional terminal assets in the U.S.”

News of the terminal sales was first reported by Oil Price Information Service, a trade news service. BP’s shares have gained 16.8 percent in London this year, leaving it with a market value of 87.6 billion pounds ($131 billion).

BP North America Inc., the company’s Naperville, Illinois-based subsidiary, operates more than 4,000 miles of pipelines and 21 terminals, according to its website.

The Gulf of Mexico assets it is looking to sell include stakes in three entities BP co-owns with Enterprise Products Partners LP: the Wilprise and Tri-States Pipelines and the Pascagoula Gas Processing Plant, the people said.

It is also seeking to sell its stakes in the Destin and Okeanos Gas pipelines, which it co-owns with Enbridge Inc., the people said.

Quatra Expands UK Footprint with Strategic Acquisition of Lifecycle Oils
12.15.2025 - NEWS
December 15, 2025 [Biofuels International]- Quatra, one of Europe’s leading specialists in the ... Read More
KBR Awarded Green Ammonia Project by IGNIS in Spain
12.15.2025 - NEWS
December 15, 2025 [Globe Newswire]- KBR (NYSE: KBR) announced today that it has been awarded a te... Read More
GreenGo Energy and SELECT ENERGY Announce Strategic Partnership for Landmark Green Ammonia Project in Mauritania
12.15.2025 - NEWS
December 15, 2025 [GreenGo Energy]- GreenGo Energy A/S (“GreenGo”), a Danish renewable energy... Read More
Egypt, Qatar's Al Mana Holding Sign $200 Million Sustainable Aviation Fuel Deal
12.15.2025 - NEWS
December 15, 2025 [Reuters]- Egypt signed a contract with Qatar’s Al Mana Holding for a fir... Read More