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BP: To sell or not to sell August 5, 2010

Posted by hslu in China, Energy, Global Affair, Obama, Politics.
Tags: , , , , , , , , , ,

BP’s blowout well in  GoM is finally plugged and abandoned and the lives of BP engineers can now slowly go back to normal. But their 401(k)s still have a long way to go before reaching to the level before the accident. Even though the damage to the shore was much mild compared to what the media has let us believe, there are still thousands of lawsuits waiting to get a piece of pie from BP. The big question now is “Where is the oil?”

What BP management is working on right now is debating whether to sell the property to another company or continue with the relief well to develop the field. My guess is that BP will sell the property and China National Offshore Oil Corp  may be one of the companies interested in the property.

China needs the resource and has tons of cash. BP needs money to pay for the lawsuits and may want to get out of United States to repair its image.


“一个愿打; 一个愿挨。两者一拍即合”

“yi1 ge4 yuan4 da3, yi1 ge4 yuan4 ai1; liang3 ge4 yi1 pai1 ji2 he2”

They also don’t want Salazar constantly breaths down BP’s neck and are tired of hearing Salazar talking about what a  “catastrophic” disaster the spill has been. They for sure are sick of hearing Obama plugging another damn hole story.


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