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BP Asset Sale: A Glimpse of What the Company Will Look Like

For a glimpse at what BP will look like post-Gulf oil spill, just take a look at what assets the company has sold so far -- and more importantly, the ones it hasn't -- as part of its planned $30 billion portfolio dump.

Earlier this summer, I argued that BP's planned asset sale to help pay for the Deepwater Horizon disaster in the Gulf of Mexico wouldn't change the company's primary focus: exploration and production of oil and gas, especially in the Gulf and Canada's oil sands. And even though the sums in question sound significant, they're not when you consider that BP values its total assets at $250 billion.

The sales so far have been fairly predictable and make sense. BP isn't holding a fire sale, instead it has put thought into the assets that don't fit into its core operations.

BP is clearly committed to the Gulf of Mexico, Brazil and Azerbaijan, all assets it bought earlier this year from Devon Energy. The company also is moving forward with its plans in the Canadian oil sand; has acquired an exploration block in the South China Sea; and bought additional interest in the BP-operated Azeri-Chirag-Gunashli oilfield in the Caspian Sea.

The big remaining question is whether BP will hold onto its assets in Alaska, which includes a 26 percent interest in Prudhoe Bay.

Assets sold to date:

Photo from BP
For complete coverage, see All Things BNET on BP's Gulf of Mexico Spill
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