British Petroleum is selling its assets in the US

Representatives of British Petroleum (BP), one of the world's largest oil-refining groups, have announced management's decision to sell two plants located in the US.

The plants up for sale are located in Texas and California. Besides these production sites, the corporation's sales assets located in Arizona, Nevada and Southern California will also be sold. The result of the deal will be a 50% reduction in British Petroleum's refining capacity in the US.

The sale of BP's assets will continue through the end of 2012. As Iain Conn, who heads the group's refining division, reported, British Petroleum's management plans to sell assets worth 4.4 billion dollars in total. Prospective buyers have already sent their offers to BP, as previously reported by Robert Dudley, the company's chief executive.

The British refining group's future plans include developing its remaining sales and production assets in the US that have the best prospects. Among the latter are two large plants in the states of Washington and Indiana, and a plant in Ohio that is 50% owned by BP.

Based on materials from Vesti.ru