Public Buzzes Over BP Rumor

Dave Donaldson, APRN – Juneau

Financial markets buzzed over the weekend in response to a news account that BP was in the process of raising part of its $20 billion commitment to cover damages caused by the Deepwater Horizon spill in the Gulf of Mexico.

In an article that did not name any source the Sunday Times of London said part of the money BP needs would come from selling its holdings in Alaska’s rich Prudhoe Bay field.  The Sunday Times also said that the company is in negotiations with Apache Corporation – a 55-year-old oil exploration and development company headquartered in Houston Texas. 

The speculation about the negotiations and sale grew Monday to include possibilities that Exxon-Mobil and PetroChina are interested in BP’s Alaska holdings. 

Steve Reinhardt, BP’s spokesman for Alaska issues, declined to involve the company in the rumors.

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