From Taighde
British Petroleum (BP) is a major oil and gas company based in United Kingdom.
Four Sovereign Wealth Funds have stakes in BP: Kuwait Investment Authority, Government Pension Fund of Norway, Government of Singapore Investment Corporation, and State Administration of Foreign Exchange. SAFE bought less then a 1% stake in BP on April 14, 2008 for roughly $2 billion.
The KIA has held a stake since 1986. It currently holds a 2.56% stake. At one time, the KIA's stake was at 25%.
The Government Pension Fund of Norway held a 1.75% stake in the company as of December 31, 2009. The stake is valued at $3,173,092,156.
| Date
| Ownership
| Voting
| Value
|
| December 31, 2009 | 1.75% | 1.75% | $3,173,092,156
|
According to Bloomberg, the Government of Singapore Investment Corporation has a 1.07% stake in the company. As of May 1, 2010, the GIC held 200.4 million shares. At this time it was worth $1.68 billion.
Rumored capital investments
As a result of the Deepwater Horizon oil spill that sent BP's shares into a tailspin, there has been multiple reports[1][1] that BP is seeking a strategic investor with sovereign wealth funds being one of the possible investors. The CEO of BP met with the Abu Dhabi Investment Authority on July 7, 2010.[1]
The Chairman of the National Oil Corporation, Libya's state-owned oil company, Shokri Ghanem said that he will recommend the Libya Investment Authority purchases shares in BP.[1] His comments came on July 5, 2010. The government later rebuffed Ghanem's comments.[1]
