SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549



                                    Form 6-K

                            Report of Foreign Issuer

                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934


                       for the period ended 10 February, 2004


                                    BP p.l.c.
                 (Translation of registrant's name into English)


                 1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
                    (Address of principal executive offices)


     Indicate  by check mark  whether the  registrant  files or will file annual
     reports under cover Form 20-F or Form 40-F.


              Form 20-F        |X|          Form 40-F
                         ---------------               ----------------


     Indicate by check mark whether the registrant by furnishing the information
     contained in this Form is also thereby  furnishing  the  information to the
     Commission  pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
     1934.


                    Yes                            No        |X|
                         ---------------               ----------------



February 10, 2004


BP CONCLUDES PLACING OF STAKE IN SINOPEC

BP announced today that it has concluded the placing of its entire 2.1 per cent
stake in China Petroleum and Chemical Corporation (Sinopec), announced earlier
today.

BP has agreed to sell its stake of around 1.8 billion 'H' shares in Sinopec at a
price of HK$3.15 a share, raising a total of approximately HK$5.8 billion
(US$742 million). Settlement is due to occur on February 13, 2004.

The placing of the Sinopec shares was arranged by Morgan Stanley on behalf of
BP.

Further enquiries:

David Nicholas, BP press office: +44 (0)20 7496 4708

This announcement does not constitute or form part of an offer, solicitation of
an offer or invitation to purchase or subscribe for securities in any
jurisdiction.

Morgan Stanley & Co. International Limited is acting for BP in connection with
the placing and no-one else and will not be responsible to anyone other than BP
for providing the protections offered to clients of Morgan Stanley & Co.
International Limited nor for providing advice in relation to the placing.

- ENDS -




                                         SIGNATURES





Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                         BP p.l.c.
                                        (Registrant)



Dated: 10 February, 2004                          /s/ D. J. PEARL
                                                  ..............................
                                                  D. J. PEARL
                                                  Deputy Company Secretary