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.
|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 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.
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. His comments came on July 5, 2010. The government later rebuffed Ghanem's comments.