Thomson Financial reported that BHP Billiton has denied it has any plans to sell its petroleum division if succeeds in getting Rio Tinto to agree to its merger proposal.

Mr Michael Yeager CEO of BHP Petroleum in a letter to employees said that “The board of directors considers BHP Billiton Petroleum to be a key part of the BHP Billiton group. They greatly value our current performance and want more of it in the future.”

Mr Yeager said that “As a member of the group management committee, I have been actively involved in the development of the proposal and the sale has not been contemplated as part of this proposal.” He told employees that the division is busier now than ever before and the role you play is critical to the company as a whole, not just to BHP Billiton Petroleum.

Mr Yeager was responding to media reports that the division might be sold as part of the Rio Tinto transaction.