Statement Regarding Sale of BP’s Interest in Pan-American Energy to Bridas Corporation

Published date 2011-11-07 10:12
On 5 November 2011, BP received from Bridas Corporation a notice of termination of the agreement for their purchase of BP’s 60 per cent interest in Pan American Energy LLC (PAE). As a result of Bridas Corporation’s decision and action, the share purchase agreement governing this transaction, originally agreed on 28 November 2010, has been terminated. The closing of this transaction had been…