European Oil giant BP Plc. (BP, BP.L) is seeking buyers for as much as $2 billion of U.S. pipelines and storage terminals, Bloomberg reported citing people familiar with the matter.
In the last two weeks, BP sent offering materials to potential buyers of two batches of assets: Its interest in four pipelines and a gas plant along the Gulf of Mexico, and 15 storage terminals in the Midwest and on the East Coast, the report said.
The Gulf of Mexico assets it is looking to sell include stakes in three entities BP co-owns with Enterprise Products Partners LP: the Wilprise and Tri-States Pipelines and the Pascagoula Gas Processing Plant.
It is also seeking to sell its stakes in the Destin and Okeanos Gas pipelines, which it co-owns with Enbridge Inc.
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