Stock Market News : BP Plc. (NYSE: BP) assets on sale.

BP Plc.(ADR) (NYSE: BP) shares are currently trading at $39.42 a weekly gain of $2.56 gain which is 6.95% up from  last Monday’s closing price of $36.86. The company’s shares have 52-week trading range of $26.75 - $62.38. The daily average volume of the stock is 28.78 million shares. The company has 50 day moving average of $35.04 and 200 day moving average of $50.07.

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 The RSI of the stock is 62.82, heading towards an overbought position. The sustenance and resistance levels of BP Inc. are $38.46 and $40.15. The Market Capitalization of the company is $123.45 billion.

BP Plc’s Oil spill again came into the news, when a team of scientist said yesterday that the company’s Macondo well released 4.1 million barrels of oil in the Gulf of Mexico waters before it was stopped. At 4.1 million barrels, the spill was 16 times the leak by the Exxon Valdez in 1989.

Kuwait Petroleum international might consider buying BP Plc. assets. They would not like to increase their stake in the company, but may consider buying it assets.

Singapore based Sembcorp Industries looking to buy a stake in the power plant in Vietnam from BP Plc. Sembcorp Utilities hold one-third of the 728-megawatt plant, same as BP. The plant uses gas from BP Plc. operated fields.

BP Plc. has said that it is willing to sell some of its assets in Vietnam, to fund its $30 billion divestment plan for Gulf of Mexico Oil spill. The sale of assets of Vietnam would not include BP’s downstream business in Vietnam.

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BP Plc. has already spent about $4 billion and has agreed to pay $20 billion for a cleanup and compensation fund. To fund this company, has put assets in several parts of the world, including the U.S., Canada, Pakistan and Vietnam on sale. On July 20, BP agreed to sell $7 billion of oil and gas assets in North America and Egypt to Apache Corp. (APA).

BP Plc. has made payment request to Mitsui & Co. (offshore) for a total of $480 million to cover costs for the Gulf of Mexico oil spill.

BP plc is an international oil and gas company.. The Company operates two segments: Exploration and Production, and Refining and Marketing. The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals. BP's chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and polyethylene.

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