BP, the UK-listed oil company, is rumoured to be a potential bid target for Exxon Mobil. Exxon Mobil posted a £19.2bn profit in 2005, and the US-listed oil company has £19bn spare cash. Exxon has said it will not be paying a dividend this year. An analyst at Cazenove, one of BP's brokers, issued a report suggesting that BP should consider breaking itself up into separate upstream and downstream businesses. The analyst suggested that BP should look at a demerger of its downstream operations in a tax-efficient way. BP has a market capitalization of £135.66bn.