BP has flown executives to Australia in recent weeks, as it considers an offer for Woolworths' extensive network of petrol stations.
Street Talk understands London Stock Exchange-listed BP has been running the numbers on the $1.5 billion-odd business, seeking to capitalise on Woolworths' new management team and board which has demonstrated it is willing to consider all options for the company.
Woolworths operates about 500 convenience stores under the Caltex brand, selling more than 4 billion litres of fuel per year. Sales at Woolworths petrol division were worth $5.63 billion last financial year. Analysts reckon the business would be worth up to $1.5 billion.
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