{"id":598429,"date":"2019-05-26T03:59:37","date_gmt":"2019-05-26T03:59:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/"},"modified":"2019-05-26T03:59:37","modified_gmt":"2019-05-26T03:59:37","slug":"bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/","title":{"rendered":"BP close to selling GUPCO stake to Dragon Oil for USD 600 mn"},"content":{"rendered":"

<\/a> M&A WATCH- BP is close to selling its stake in Gulf of Suez Petroleum Company<\/b> (GUPCO) to Dubai-based Emirates National Oil Company (ENOC) subsidiary Dragon Oil<\/a> for USD 600 mn, industry and banking sources said, according to Reuters<\/a>. The move received initial approval from the Oil Ministry. The sources gave no further details, and spokesmen from each of the companies did not comment. BP reached an agreement last year with oil and gas major SDX Energy to buy the stake, but the Oil Ministry voiced objections to the sale. GUPCO is a JV between BP and the Egyptian General Petroleum Corporation (EGPC).<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- BP is close to selling its stake in Gulf of Suez Petroleum Company (GUPCO) to Dubai-based Emirates National Oil Company (ENOC) subsidiary Dragon Oil for USD 600 mn, industry and banking sources said, according to Reuters. The move received initial approval from the Oil Ministry. The sources gave no further details, and spokesmen […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[196,93,72,10811,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598429","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-bp","tag-energy","tag-enterpriseam","tag-mas","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5f980190-ae7f-4ea3-98f9-706732208c8f","is_powered_by":true,"section_story_id":"14ba8c19-6ce7-4539-bdb8-80bb70fa74ef","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598419],"teaser":"","voice_url":""},"yoast_head":"\nBP close to selling GUPCO stake to Dragon Oil for USD 600 mn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BP close to selling GUPCO stake to Dragon Oil for USD 600 mn\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- BP is close to selling its stake in Gulf of Suez Petroleum Company (GUPCO) to Dubai-based Emirates National Oil Company (ENOC) subsidiary Dragon Oil for USD 600 mn, industry and banking sources said, according to Reuters. The move received initial approval from the Oil Ministry. The sources gave no further details, and spokesmen […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-26T03:59:37+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"BP close to selling GUPCO stake to Dragon Oil for USD 600 mn\",\"datePublished\":\"2019-05-26T03:59:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/\"},\"wordCount\":114,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BP\",\"energy\",\"EnterpriseAM\",\"M&As\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/bp-close-to-selling-gupco-stake-to-dragon-oil-for-usd-600-mn\/\",\"name\":\"BP close to selling GUPCO stake to Dragon Oil for USD 600 mn - 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Emirates National Oil Company (ENOC) subsidiary Dragon Oil is set to acquire unspecified assets in Egypt within the next three to four months, Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East. According\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631377,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/18\/bp-looking-to-sell-off-maturing-egypt-assets-and-focus-on-gas\/","url_meta":{"origin":598429,"position":5},"title":"BP looking to sell off maturing Egypt assets and focus on gas","author":"enterpriseam admin","date":"18 March 2018","format":false,"excerpt":"BP looking to sell off maturing Egypt assets and focus on gas, exploring exit from GUPCO: BP has reportedly begun meeting with prospective buyers for its stake in its 50-year-old JV with the EGPC, the Gulf of Suez Oil Company (GUPCO), banking sources told Reuters. 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