US seeks advance notice of any BP sales

The US Department of Justice has asked BP for advance notice of any planned asset sale or deal involving significant cash transfers as the British oil company seeks to raise funds to shore up its balance sheet.

The request underlines how closely the Obama administration is watching BP’s every move and its interest in ensuring the company remains a going concern in the wake of the oil rig explosion that killed 11 people and continues to spew thousands of barrels of oil into the Gulf of Mexico every day.

BP said on Tuesday night that it had not agreed or responded to a June 23 written request by Tony West, assistant US attorney general, for BP to alert the DoJ of any plans that might impact the future of the company, including corporate restructuring, asset sales, or joint ventures.