BP: No plans to sell alternative-energy businesses

BP Plc has no plans to sell its renewable-energy businesses as the British oil giant seeks to sell billions of dollars of assets in the wake of the Gulf of Mexico oil spill, said John Graham, president of BP Wind Energy. BP has said it plans to sell US$10 billion of assets over the next year, and speculation is growing over which assets will go, with recent media reports of talks between the company and Apache Corp. (APA) over some of BP’s Alaska properties, among others. Graham said, “We look at every option all the time; if the price is right, we will sell.” However, “we haven’t built it [the renewable-energy business] to sell it. There is no need to sell it.” (July 15, 2010)