BP seeks buyers for $2 billion in midstream assets

BP is reportedly seeking bidders for $2 billion in pipelines and storage terminals in the U.S. Via Bloomberg, BP sent offering materials to potential buyers for four pipelines and a gas plant along the Gulf of Mexico and 15 storage terminals in the Midwest and on the East Coast. 

Sources say BP is attempting to sell its stakes in the Wilprise and Tri-States pipelines and the Pascagoula, Miss., Gas Processing Plant. It is also seeking to sell its stakes in the Destin and Okeanos gas pipelines.

Meanwhile, BP executives are reportedly concerned the company could be ripe for a takeover in the wake of Shell’s recent agreement to acquire BG Group for $70 billion.

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