BP Plc (BP)

[eFinanceMarkets]

$BP BP considers spinning off U.S. pipelines into MLP

BP says it is considering spinning off some of its U.S. pipelines into a publicly traded MLP.

BP says the spinoff, tentatively called BP Midstream Partners, would house its Gulf Coast and Midwest pipeline assets that transport its crude oil, natural gas and refined products.

While no decision has been made, BP says such an IPO would offer an opportunity to grow its pipeline business while also providing investors with new venues to find value.

Out of the global oil giants, only Royal Dutch Shell has an MLP, launching Shell Midstream Partners in 2014.