BP no longer selling refining assets

After announcing last year that it plans to sell its refinery in Carson near Los Angeles, and another one in Texas City near Houston, BP said it is not planning to sell any further refining assets. The company hopes to raise US$38 billion by the end of 2013 from the sale of its assets, which will help pay for the company’s close to US$ 37 billion obligations following the 2010 Gulf of Mexico spill. There have been speculations that PetroChina, India’s Reliance and Mexico’s Pemex are potential buyers for the Carson plant. (May 1, 2012)