China Could Buy BP?
Steve LeVine has a good blog post up about TNK-BP, and how this business dispute will probably become the subject of academic study some day as a symbol of how the energy sector is changing. He quotes several analysts who recommend that BP should just cut its losses and get out of Russia completely, which would case the Street to beat down their share price dramatically, which could lead to an eventual acquisition or merger with a company like ExxonMobil. Or perhaps there are some new players who could buy BP…
Yet why are the Big Oil companies the only perceived merger partners? As Big Oil seeks access to China and the Middle East, wouldn’t their national companies and sovereign wealth funds seek equal treatment?
Wow. Not even T. Boone Pickens had envisioned this when he declared “the biggest transfer of wealth in history.”
