FT: BP speeds up $20bn asset sale to boost funds + Verenium acquisition

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BP speeds up $20bn asset sale to boost funds
BP has accelerated the sale of up to $20bn worth of assets as it attempts to ease concerns about its financial health after the Gulf of Mexico oil spill.
http://www.ft.com/cms/s/0c1751fa-9051-11df-ad26-00144feab49a.html
 
 

It has bought full ownership of its joint venture with Verenium, the US biotech company, working on producing "cellulosic" ethanol from non-food crops such as switchgrass.

Philip New, chief executive of BP Biofuels, said: "This acquisition demonstrates BP's intent to be a leader in the cellulosic biofuels industry in the US."

 

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