Algeria looking at BP assets

Studying options: Energy and Mines Minister Youcef Yousfi

REUTERS / ZOHRA BENSEMRA

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By News Wires

 20 December 2010 05:44 GMT

Algeria is considering all the options on the assets which BP wants to sell, including acquiring them for itself or letting another company buy them, according to reports.

Russian oil company TNK-BP wants to buy BP's assets in Algeria, which include stakes in two major gas-producing fields, but Algerian state energy company Sonatrach has the right of first refusal, Reuters reported.

BP's Algerian interests are among a number of assets around the globe it has put up for sale to help pay for the Gulf of Mexico oil spill earlier this year.

Sonatrach is "studying all the options, whether that's a case of BP deciding to sell its assets to another party, or whether it (Sonatrach) would buy those assets in…

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