(MENAFN) BP spokesperson, Robert Wine, said that the company is still affected by the Gulf of Mexico's disaster that occurred in the past year and it is still trying to fully recover from it, reported Bloomberg.
Banks on the other side, recommend BP, the third-largest energy company, to do the same as ConocoPhillips by splitting its refinery section from its exploration and production business. Especially after the unsuccessful exploration deal with the Russian OAO Rosneft, and the fact that BP was fined billions of dollars because of that deal.
The split plan is considered to be the best for the recovering company. A similar deal was carried out before by the Marathon Oil Corp, which shares gained 23 percent from the time it announced the split of its refinery section from the exploration and production business.
When asked about splitting other sections, Wine said that the company has no plans to split up other units including the company's operations and marketing section.