Middle East investors are thought to be mulling over a possible investment in stricken oil giant BP, it was reported on Sunday.
As problems continue to hit the company amid the oil spill in the Gulf of Mexico, informed sources said proposals from the region had already been made to BP advisers in London, UAE daily The National reported.
“BP knows there is potential support from the Middle East,” a source told the paper, adding that Middle East investors would also consider buying key assets from BP.
The company's balance sheet has been badly damaged by the cost of cleaning up the oil spill in the Gulf of Mexico with estimates putting the clean-up cost as high as $60bn.
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