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Venezuela is the third largest oil exporter.
It is the third largest oil field in the world and the largest offshore.
BP said it had received "unsolicited indications of interest" in its 50% shareholding in Russia's third largest oil producer.
"As such, they are the world's third largest oil reserves and offer Iraq a very strong future".
The two groups of shareholders had a dispute in 2008, which led to Robert Dudley's resignation from the top post at TNK-BP, Russia's third largest oil producer.
The United States is the third largest oil producer in the world and United States production must continue to play a critical role in meeting global demand.
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At the beginning of this year, North Dakota overtook California as the nation's third largest oil-producing state.
Cultivated for its premium oil, Brassica currently comprises the world's third largest oil-producing crop after soybean and oil palm.
The purchase would make Energy XXI the third-largest oil producer on the shelf, with interests in seven of the 11 largest oil fields there, the company said.
Colombia is Latin America's third-largest oil exporter but is in danger of becoming a net oil importer if new, large discoveries of crude are not made.
TNK-BP will be Russia's third-largest oil producer.
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