Shanghai—BP is putting up for sale its 50% stake in the Shanghai Secco joint venture with Sinopec in Caojing, China, reported Reuters citing other sources. Sinopec, which has a right of first refusal for the stake, said it was discussing the conditions given by BP and has not yet made a decision. BP has retained Morgan Stanley to handle the transaction, which could "fetch" between $2-billion and $3-billion, the report said.
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