BP ups stake in Indonesian LNG plant
BP, the British-owned oil giant, has acquired a further 3.06% stake in an Indonesian LNG plant from Spanish operator Repsol for $113m (£89m).
The deal raises operator BP’s stake in the plant just over 40%. The Tangguh plant processes 7.6 million tonnes of LNG a year.
BP gave the go-ahead for the $8 billion expansion of Tangguh’s third LNG train. Repsol has said the transaction will generate $26m in pre-tax capital gains.
Meanwhile, State-run Japan Oil, Gas and Metals National Corp (JOGMEC) has bought liquefied petroleum gas (LPG) for storage in its national reserves via a tender.
JOGMEC wanted 23,000 to 24,150 tonnes of propane for a stockpiling base in Kurashiki in western Japan for delivery until Jan. 31.
Separately, JOGMEC is also seeking 23,000 to 24,150 tonnes of propane for a stockpiling base in Kurashiki in western Japan for delivery until March 15. The tender will be held on Jan. 19, with offers to be evaluated the same day.