British Petroleum has sold it's interests in South Africa to Puma Energy and the deal is final. Puma Energy paid BP a total of $296 million in cash for its assets.
The sale does not include refining and marketing businesses in South Africa and does however follows British Petroleum's strategic review of its southern African refining and marketing businesses.
“BP is pleased that the sale of Tanzania has now been completed successfully. We believe Puma Energy will be able to build on these good assets and develop them further. We are committed to developing and pursuing the significant growth potential of our businesses in South Africa and Mozambique,” said Iain Conn, BP’s Chief Executive for Refining and Marketing.
This column is presented to the Gulf Coast Community as a public transparency service from Hank Richards, writer for the nationwide publication, The Examiner.com and press pool reporter for British Petroleum.
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This column was prepared for publication by Hank Richards, Examiner.com writer for Huntsville, Alexandria the Gulport/Biloxi/Gulcoast Restoration Region, Gulf Coast Political Buzz and press pool reporter for the British Petroleum Recovery Program.
To report a breaking story or to write a letter to the editor for publication, contact Hank at (256) 417-6084 or send an email to tips@pronlinenews.com at his website www.pronlinenews.com
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