A Kuwaiti daily said the Gulf Cooperation Council sheikdom was examining
an offer to acquire BP assets in the Middle East.
On July 5, the Al Jareeda daily said the state-owned Kuwait Foreign Petroleum Exploration Co. was
interested in BP assets in such Arab countries as Egypt and Yemen, Middle East Newsline reported.
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Kuwait has not confirmed the newspaper report. Al Jareeda said Kuwait
Foreign Petroleum has not begun talks with BP.
But Britain's Guardian newspaper said BP, in wake of the huge crude oil
leak in the Gulf of Mexico, has been discussing a deal with the state-owned
Kuwait Investment Authority. Kuwait Investment already owns 1.75 percent of
BP, and the British-based energy contractor was said to have offered Kuwait
to increase its stake to up to 10 percent.
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