Do you think BHP is prepping for a complete sale of their petroleum assets?
7 replies (most recent on top)
I think yesterdays coverage in the press says it all, no smoke without fire. Interesting to see if the President of PET will make any comment on it, if not then we know its true, if she does and she denies it or says we don't comment on speculation and we do sell it off then any remaining credibility left in PET is gone forever, but they won't care they will be well looked after.
The PET assets are all garbage, who in their right mind would buy them?
Pemex will ra-e them royally on Trion, what’s left but a mediocre OBO portfolio.
Pass
Yes. Done deal.
Definitely setting up for some major action. Got rid of key players and team that consumed untold hours on risking any new ideas to death and thousands of hours polishing up PowerPoints to look pretty.
If they do sell it, new owner would be best to take the assets but not the people and start fresh. Nice people for the most part, but clueless inexperienced managers with no understanding of the oil business. What little they've learned was from watching BP for the past decade. Old school BHP folks knew their sh-t, but they're all gone now.
Would not surprise me at all. With the large layoffs, big restructuring and org simplification, makes it a much easier entity to market for a spin off or outright sale.