LONDON / Reuters BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt as it focusses on newer deepwater gas fields off the country’s Mediterranean coast, banking sources said. The London-based company has in recent weeks pitched to potential buyers its stake in Gulf of Suez Oil Company (GUPCO), a joint venture with the …

Bloomberg Glencore Plc and Vitol SA are among companies submitting bids for a stake in the Indeni Petroleum Refinery, Zambia’s only fuel processor, according to the southern African nation’s development agency. Seven offers were made for a stake in the 20,000 barrel-a-day plant, including from the China Petroleum Technology & Development Corp., Philia Trading Pte Ltd, and a group including …

DUBAI / Reuters Construction work has begun on a joint venture to build a shipyard on Saudi Arabia’s eastern coast, oil rig builder Lamprell Plc said in a statement. The joint venture, International Maritime Industries (IMI), started operations after reaching agreement for a loan from the state-backed Saudi Industrial Development Fund (SIDF), the statement said. The SIDF agreed in principle …