BP Venezuelan Asset Sale Approved; PDVSA Interested

British major BP has received a green light from the Venezuelan government to start talks over the sale of its assets in the country. BP, which has set out on a US$30bn divestment programme aimed at meeting costs from the Gulf of Mexico (GoM) oil spill, has said that it would like to sell the Venezuelan assets to its Russian partnership TNK-BP. Comments from the country's oil minister Rafael Ramírez, however, have indicated that state-run Petróleos de Venezuela (PdVSA) is interested in the assets.

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