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BP Argentine assets on sale to pay for Gulf of Mexico spill; China interested

Friday, July 2nd 2010 - 03:32 UTC
Full article 54 comments

China National Offshore Oil Corp., the country’s third-largest oil and gas company, declined to comment on reports it is holding talks to buy as much as 9 billion US dollars of BP Plc’s assets in South America. Read full article


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  • Think

    What was I Saying to “Argie” and other “Oilmen” yesterday when they kindly“informed me about the ”Brutishness“ of PAE??? ”....... Oh yes.....
    A little “cut & paste and voilà:

    ”(32) Argie
    For your kind info:
    BP has already decided to sell their shares in Pan American Energy to the other partners months ago.
    In line with the political and economical realities of today's Argentina .
    But, of course this kind of info is NOT on the first 3 lines of your browser when you google.
    You have to work a little bit harder Sir.”

    Jul 02nd, 2010 - 04:17 am - Link - Report abuse 0
  • NicoDin

    Here the story of how close to bankruptcy BP is

    And Beef investment inc laughed when I mentioned.

    Haha They don't even know what they buy

    Jul 02nd, 2010 - 05:39 am - Link - Report abuse 0
  • Hoytred

    I thought that they'd bought Rockhopper or FIG or somesuch? Are they BP?

    Of course it could just be BP's way of exiting Argentina so that they can get into the 'medium crude' around the islands. They are, after all, comitted to deep water exploration!

    Assuming they survive as a business .... financially aren't they as wealthy as a small country?

    Hey ho .... Brits out, Chinks in ...... :-)

    Jul 02nd, 2010 - 07:08 am - Link - Report abuse 0
  • Think

    (3) Hoyt

    You say:Assuming they survive as a business .... financially aren't they as wealthy as a small country?

    I say:
    That's the catch about “Finance”.... As soon as “Trust”disappears.... There is no “Wealth” at all.

    I vote the Chinks in........ When is the last time you visited an “English ” restaurant ;-)

    Jul 02nd, 2010 - 08:14 am - Link - Report abuse 0
  • Hoytred

    Loads of 'em here .... at least they advertise 'English Breakfast' :-)

    Jul 02nd, 2010 - 08:20 am - Link - Report abuse 0
  • Think

    Is that an upset stomach I have, or are my arteries clogging just reading that?

    Jul 02nd, 2010 - 08:51 am - Link - Report abuse 0
  • Hoytred

    Not healthy for sure, death by cholesterol .... but just the job for a winter's morning (providing you don't need to run anywhere)

    Jul 02nd, 2010 - 10:14 am - Link - Report abuse 0
  • Beef

    Nico - FYI - I don't currently own any BP shares. I did a day/2day trade with them recently and made a 10% profit. What returns do you get on your investments if you are such an expert? What do you currently hold in your portfolio? However, I could have made much more by opening a short position on BP in my spread betting account but profiting on the unfotunate events that led to the death of 11 people is not my way of making money.

    BP may never be the same company as it is/was recently (in terms of structure and opperations) but will it cease to exist in any shape or form - doubtfull.

    Perhaps they could buy out RKH or DES (although I would prefer a bidding war between two or three big boys {inc Shell who know the area/region well}) in the future while BHP buy out FOGL (without competition most probably)?

    Jul 02nd, 2010 - 12:09 pm - Link - Report abuse 0
  • Think

    I love you nonchalant detached approach Beef.....
    You keep your Cool and react only to the realities of the Market......
    If things go wrong you cut your looses and move on to greener pastures......
    Like the Hedge Funds Executives leaving London City for Geneva’s Tax Heaven.....
    This is the kind of people Argentina wants the Islanders to become.....
    Adaptative, modern flex-movable folks without all those Roineck archaic ideas....

    Jul 02nd, 2010 - 12:45 pm - Link - Report abuse 0
  • zethe

    BP is going through hard times think, yes. But close to bankruptcy? hardly.

    Aside from it's personal cash and credit BP has around 300 billion in other company assets. This is just an example of them freeing up some of those assets in harsh times.

    Jul 02nd, 2010 - 02:11 pm - Link - Report abuse 0
  • Beef

    Think. Investments are made with the head and not with the heart, but remember the soul. We are human first and scientists, economists etc. second.

    Why bother with Geneva when we have the Isle of Man and Jersey on our doorstep! Although Bermuda or the Cayman Islands have some other attractive features apart from being a tax haven :-)

    Jul 02nd, 2010 - 03:15 pm - Link - Report abuse 0
  • Think

    Curious......Man.....Jersey.....Bermuda.....Cayman.... Islands.....
    What about putting your money where your mouth is and go to the Falk......
    Ohhhh ....... I remember now....
    “It is easier for a camel to go through a needle's eye than for a rich man to enter into the kingdom of God.” ;-)

    Jul 02nd, 2010 - 03:59 pm - Link - Report abuse 0
  • Beef

    The eye of the needle was a passing point in the wall surrounding the wall in Jerusalem. It was too narrow to allow a fully laden camel through so the camel had to be unloaded outside of the wall and the good brought through by hand.

    I don't know any rich men here. I have a mortgage so I certainly ain't me. Would have no problem visiting the Islands but would prefer to do the yomp from San Carlos to Stanley (for charity of course) rather than take photos of penguins!

    Jul 02nd, 2010 - 04:51 pm - Link - Report abuse 0
  • Hoytred

    Apparently Argentina now has the support of Syria over the Falklands (another member of the fast being discredited C-24?), and in exchange are supporting Syria over the Golan Heights ............... Argentina does know how to pick its friends lol

    Jul 02nd, 2010 - 11:47 pm - Link - Report abuse 0
  • Think

    (14) Hoyt

    We have supported Syria for at least 60 years now.
    We even had a Syrian president.
    Different is the story of the UK and Palestina.
    Perfect example of British pragmatism.
    The Malvinenses should keep that in mind.

    Jul 03rd, 2010 - 04:53 am - Link - Report abuse 0
  • Hoytred

    Pragmatism doesn't work in a grudge match ..... too emotional !

    Can I assume that your Syrian President was 'elected' in much the same way as the current Syrian President .... and indeed his father !

    Garnering the support of dictators does Argentina little credit and is unlikely to go down well on Capitol Hill regardless of the views of the current incumbent.

    Jul 03rd, 2010 - 06:21 am - Link - Report abuse 0
  • Think

    Our “Syrian“ president was duly elected.
    Not a credit for democracy though...

    It distresses me a bit when you choose to play the ”superior moral card” about dictators.

    Your fixation with “Capital Hill” significance for our region and your “information” about the hostility between our countries here on the South Cone are sooo.......... 80sh.

    I really suggest you to look at the political developments of the last 30 years with a fresh/open perspective if you want your analysis to carry any weight.

    Of course, if your aim is purely to satisfy the needs of the “turnips” in here, then you are doing a magnificent job.

    Jul 03rd, 2010 - 07:00 am - Link - Report abuse 0
  • Hoytred

    Pinochet was without doubt a dictator and I doubt that there have ever really been any 'benign' dictators. It was rather distressing that Maggie found it necessary to deal with him but then again it said a lot about here character that she had the bottle to stand against the British press and recognise the 'favours' that he'd done in '82. Of course in 1982 Chile had it's own fears of an attack by Argentina. N0?

    As for the Arabs, our history with them goes back a very long way. No I don't like their politics or their religion very much but we are, as you say, practical enough to like their money. Notice the photo with our Queen - monarchy talking to monarchy! Hey ho.

    As for Capitol Hill., I thought it was Argentina that was investing so much in improving its relationship with their large neighbour?

    Sooo 80's ...... not sooo long ago then. Memories are long and your neighbour's I doubt, trust you any more now than they did 50 or 100 years ago. Import controls that don't exist but are noticed by, e.g the EU and Brazil merely add to the long list of things that Argentina says being diametrically opposed to what Argentina does. Your neighbours watch you much the same as we do for all their outward enthusiasm.

    And 30 years in politics is just the bat of an eyelid!

    Jul 03rd, 2010 - 08:12 am - Link - Report abuse 0
  • Think

    (18) Hoyt
    If import controls are all you can come up with................ an then an conveniently unspecified “Long List of Things” then.......
    Heck we are done things right the last years!!!

    Evidence of the political change in the region is evident.
    Basing your analysis in old information is not only dumb it’s self-defeating.

    Jul 03rd, 2010 - 09:15 am - Link - Report abuse 0
  • Hoytred

    500 years is old, even 177 years maybe .... 30 years is way too short but then of course, should we all live long enough, time will tell. No?

    Be careful, the frustrated diplomat in you is showing :-)

    Jul 03rd, 2010 - 09:23 am - Link - Report abuse 0
  • Think

    30 years .....

    1943: Britain is blitzzed by the Germans.
    1973: Britain joins the Germans in the EEC.

    30 years mate

    Jul 03rd, 2010 - 09:36 am - Link - Report abuse 0
  • Hoytred

    It doesn't mean we trust 'em - mate!

    Jul 03rd, 2010 - 09:49 am - Link - Report abuse 0
  • Redhoyt

    Ever heard of the BFG ? -

    Jul 03rd, 2010 - 10:04 am - Link - Report abuse 0
  • Think

    A wonderful example of mutually convenient Military Brotherhood.
    We should do something similar here in South America.
    They could play together with their toys and fight fantasy wars...
    Good Idea.

    Jul 03rd, 2010 - 10:43 am - Link - Report abuse 0
  • Hoytred

    You know as well as I do that our troops remain in Germany because we have two previous experiences of them going 'martial'. Come to think of it we have two previous experiences of Argentina going 'martial' .... I suspect that next time you'll end up having British troops stationed there as well!

    Jul 03rd, 2010 - 02:18 pm - Link - Report abuse 0
  • Think

    Well, not surprisingly, we disagree about the utility of military might.

    A Yank I knew once had a clear opinion about the matter:
    The military is like a rubber
    it gives you a feeling of security
    while you are getting fucked.

    I agree with him.

    Jul 03rd, 2010 - 04:27 pm - Link - Report abuse 0
  • khh

    And on another note. the bo bos are out of the world cup, yee ha.
    Best game since the last one they were knocked out of.
    dagomaddona will be pleased.

    Jul 03rd, 2010 - 05:14 pm - Link - Report abuse 0
  • Hoytred

    As I said ... you've got to keep an eye on those Germans !

    Jul 03rd, 2010 - 11:39 pm - Link - Report abuse 0
  • Think

    About Football:....
    As a typical Argentinean, my hearth beats for the Dutch Boers, the Spanish Armada, the German Empire and our Uruguayans Neighbours.

    Jul 04th, 2010 - 06:16 am - Link - Report abuse 0
  • Hoytred

    As a typical Argentinean, you repeat yourself!

    Jul 04th, 2010 - 06:26 am - Link - Report abuse 0
  • Think

    Just checking if you follow.

    Jul 04th, 2010 - 06:56 am - Link - Report abuse 0
  • Islander1

    Think, Dont follow your Gemany 1940s and friends 30 yrs later angle? A very small minor difference springs to mind- in 1945 Germany renounced all territorial claims over other territories.

    Jul 04th, 2010 - 09:50 pm - Link - Report abuse 0
  • briton

    mind you the argentinians could alway use the back sliding approach and get others to do the fighting for them . the rusians used the cubans to good effect, you lot could do worse then use the irainians, after all are they not experts in capturing unarmed british sailors ?

    Jul 04th, 2010 - 10:08 pm - Link - Report abuse 0
  • Paul

    Explains -

    Stupid argie politicians, the only reasons anyone is supporting them is because of their own interests.

    Jul 05th, 2010 - 02:15 am - Link - Report abuse 0
  • zethe

    Generally, there are two types of allies in nations, political allies and military ones. Political ones will support you with word, military ones will put boots on he ground.

    Argentina has all of the first and none of the latter. Actions speak louder than words, and all that,

    Jul 05th, 2010 - 02:36 pm - Link - Report abuse 0
  • jorge!

    We don't need militar support anymore since there won't be a war, UK will give Malvinas back without a shot. Politics and economy will do the hard work.

    Jul 05th, 2010 - 03:47 pm - Link - Report abuse 0
  • avargas2001

    Sure they are Paul but at least the benefits will be mutual with China, Argentina is being dealing with the brits since 1933 and the meat industry and the farming industry got destroyed, I think it's about time we open the doors to China and Russia to see what other options there are, away from dealing with a Problematic country like UK.

    Jul 05th, 2010 - 04:12 pm - Link - Report abuse 0
  • zethe

    “UK will give Malvinas back without a shot”

    You are more likely to grow wings and shoot fire from your anus.

    “I think it's about time we open the doors to China and Russia to see what other options there are, away from dealing with a Problematic country like UK.”

    Yes, get involved with china and russia. The US will love that. The falklands will make a lovely starting point for the US' invasion of Argentina.

    Jul 05th, 2010 - 10:34 pm - Link - Report abuse 0
  • briton

    the trouble with the USA [bless them] they are torn between the british and the argetinians, we all know the Americans had other reasons for joining this south american pact, they wish to put bases in south america, but the only real thing that stands between them, is the fact that their friends , the british are already their, their greed and double dealing has come back to haunt them, they can only hope to perswade the brits to talk, but they wont, at the end of the day, they will have to choose, from the british point of view, it does not matter either way, as we dont need them, dont get me wrong their help is always their if needed, but argentina , even the yanks staying out of it on the sidelines is bad news for them. Argentina will have to live with the present and the future, but i predict this, if south america thinks getting rid of the brits will solve their problems, they are sadly mistaken, one wil be replaced by the other, so who would the south americans prefer, the brits in the falklands, or the yanks everywhere,?? it could happen

    Jul 06th, 2010 - 12:25 am - Link - Report abuse 0
  • avargas2001

    About China or Russia, India or Pakistan ? the world is a big place.

    Jul 06th, 2010 - 05:20 am - Link - Report abuse 0
  • briton

    ha ha,, they say wherever you go on planet earth a brit has already been their or will visit it soon, what a wonderfull world we live on,

    Jul 06th, 2010 - 02:09 pm - Link - Report abuse 0
  • zethe

    Briton, i disagree. The UK and US never agree when it comes to politics. Last falklands they didnt want to to side either way. Untill it kicked off, and they offered to park a carrier fleet between argentina and the falklands.

    Actions speak louder than words, and the us and uk always act to help eachother.

    avargas2001: Yeah, invite them to help you, the US will love that. You'll be the next afghanistan.

    Jul 06th, 2010 - 09:43 pm - Link - Report abuse 0
  • briton

    zeth,,,mate, you may well be correct, the yanks are very slow to do anything, but only come in at the end ,
    but as far as i am aware, [and i could be wrong]
    the yanks did sit on the fence, but two things happend that was not widly knowen at the time, apparently the yanks allowed a group of S.A.S. men enter a certain base, and remove certain missiles, that were at this time still being tested, and not even the US navy had them,
    these were used to shoot down the missils that the super entendards used, [i belive] also the yanks kitted out a ship with loads of ammunition and other things, to help,,,, but many people think rightly or wrongly abt the yanks, they WILL come to help us, but WE will pay a price for thet help, just look at WW2, its supposed to work both ways, buy with the yanks, ???????????/ briton,

    Jul 06th, 2010 - 11:28 pm - Link - Report abuse 0
  • harrier61

    Going back to the subject of the article, does it occur to anyone that BP has decided that there is no purpose to being in or around Argentina? With all its restrictive practices!

    Jul 07th, 2010 - 12:13 pm - Link - Report abuse 0
  • zethe

    43 briton: aye ww2 was a heavy price to pay, but we could not expect it for free mate, and we NEEDED that eqipment. Two world wars hurt this nation a lot. but we gladly paid it.

    I could believe the sas story, the americans have a lot of love for our special forces. Their generals are constantly praising them. But as the sas are the way they are, you never know(all secret and that).

    In the last falklands before the war they were very neutral like they are now, once it kicked off they offered a LOT of help, from putting a whole fleet between the islands and argentina to lending us entire aircraft carriers, they also gave us lots of intel. We refused any direct help because at the time, it was the cold war and the UK had to be seen to be able to defend itself(russia was watching this a lot, giving them intel).

    Amercians in general. if you ask them which country they would defend, an outstanding majority do pick the UK. even when the governments dont get on, there isn't really anyone in the world who is as like minded as us and uk people

    Jul 07th, 2010 - 07:23 pm - Link - Report abuse 0
  • briton

    45 zethe (#)
    i totaly agree,
    it seems today the argentine navy is harrasing its neighbour again
    no doubt [think] will have his say

    Jul 07th, 2010 - 07:43 pm - Link - Report abuse 0
  • zethe

    Let them. Then let them try exercise their “soverigninty” in our waters, over a type 45 destroyer with air and sub assets.

    These people don't seem to understand human rights, and as such any harrasment should be met with force.

    Jul 07th, 2010 - 09:43 pm - Link - Report abuse 0
  • avargas2001

    ok guys we got the brits running and we didn't even fire a shot, lets try the same with all thier assets in Argentina and buy them fire sale prices, I think Argentina will have a great future dealing with China and rooting out british proxy.

    Jul 07th, 2010 - 10:19 pm - Link - Report abuse 0
  • zethe

    We aren't running anywhere. The falklands still flys te union jack mate, has done for almost 200 years.

    Jul 08th, 2010 - 11:27 am - Link - Report abuse 0
  • avargas2001

    wait untill we sease all of british assets in Argentina and then you will really see the jack-a$$ flag come down faster then when it went up, look at the outcome, while Argentine is just working on the bill BP is taking up it's shop and gone the next day, getting rid of all british assets might be easyer then I thought, all we had to do is pass a bill and expropiate the assets, we are still working on the bill and BP is on its way out pretty soon UK will even take that jack-a$$ flag and go home.

    Jul 08th, 2010 - 05:59 pm - Link - Report abuse 0
  • zethe

    Meh, maybie in argentina yeah. Bothered?

    Those little islands will still be flying the old jack though, of that i'm certain.


    Jul 08th, 2010 - 06:57 pm - Link - Report abuse 0
  • briton

    once again the argies get the wrong end of the stick,
    even if you did seize our assets , you would suffer more, and risk war, so that wont happen, but on the other hand, if the British seized your assets, you would go down the drain quicker than water,

    Jul 08th, 2010 - 10:45 pm - Link - Report abuse 0
  • avargas2001

    #52 you mean Argentina has assets in UK ?? that is news to me, Cuba did it to USA, how hard do you think it would be to get all the brits out expropiate their assets and turn Argentina into a Police state, many sacrifices have to be made for national security and territorial integrity, it's better to live a short time fighting on your feet than to live a long time on your cknees.

    Jul 10th, 2010 - 04:12 am - Link - Report abuse 0
  • zethe

    Aye briton, he's got a point there. Argentina has no assets outside of Argentina.

    Jul 10th, 2010 - 10:23 pm - Link - Report abuse 0

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