JohnLaw2012 100% supportive of PetroChina-BP Merger

A combined PetroChina-BP would have oil and gas reserves that were 73 percent and 187 percent larger, respectively, than ExxonMobil Corp and Royal Dutch Shell, Standard Chartered said.


Standard Chartered also highlighted some uncertainties in its note.


"The key uncertainty is the size of BP's liability from the Gulf of Mexico accident, which could go as high as $40 billion. This should not form a stumbling block, given the limited short-term impact on cash flow," it said.

"We expect China would support such a deal, while regulators in the United States may raise antitrust concerns. While we cannot rationalise any argument that the deal should be blocked on grounds of national interest, local politicians may take a different view."