BP Plc, which announced plans to sell two of its five U.S. refineries in 2011, is interested in adding refining capacity in Asia that could be used to sell fuel to China.
BP Plc reported a “significant bounceback” in its U.S. refining and marketing operations in the second quarter because of cost-cutting and higher margins.
BP Plc expects to fetch at least $4.4 billion from selling half of its crude refining capacity in the U.S. and some retail assets as it raises cash to pay for last year’s Gulf of Mexico oil spill.
Centrica Plc’s power and gas supply chief quit a year into the job in the latest of a spate of management departures at the company as U.K. lawmakers wage a public campaign against rising consumer energy bills.
BP Plc Chief Executive Officer Tony Hayward has the backing of the board and is not about to resign, according to Iain Conn , the oil company’s head of refining and marketing.