British Petroleum is bidding on a package of Devon Energy assets that the US energy company put up for sale late last year, sources familiar with the matter told Reuters. The company is looking at Devon’s position offshore Brazil, as well as Gulf of Mexico and Canadian assets, one source said. There could be around six other bidders as well as the British oil major. Read the story here.
And in news reported by other media on Thursday:
Dubai World will present its first concrete proposals to local banks on Thursday on restructuring $22 billion of debt, The National newspaper reported, citing unnamed sources. The state-owned conglomerate has requested meetings with Emirates NBD and Abu Dhabi Commercial Bank to present its proposals.