Officials said the regime of Col. Moammar Khaddafy has been urged to
purchase BP holdings in the Middle East amid the crisis by the energy
contractor.
They said the assets could be acquired for 50 percent of their
market value amid BP's quest for immediate cash.
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Libyan National Oil Co. chairman Shokri Ghanem said he would recommend
that Tripoli take steps to purchase BP assets, Middle East Newsline reported. BP has been implementing a
major contract to explore for crude oil and natural gas in Libya since 2007.
Officials said any purchase of BP assets would be conducted by the
state-owned Libyan Investment Authority. The authority has also sought to
acquire aerospace and defense firms in Europe and other regions. Kuwait,
Qatar and the United Arab Emirates were also said to have examined the
prospect of buying BP assets.
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