STANDARD OIL SAYS BP EXTENDS TENDER
  Standard Oil Co &lt;SRD> said in a brief
  announcement issued after a meeting of its board of directors
  that British Petroleum Co PLC &lt;BP.L> (BP) has extended its 70
  dlr per share tender offer until midnight May 4.
      The offer for the 45 pct of Standard shares not owned by BP
  had been due to expire midnight April 28.
      Standard Oil said discussions with BP concerning the tender
  were continuing but provided no further details.
      "So long as those discussions continue, no recommendation
  will be made to Standard Oil shareholders regarding the offer,"
  Standard said.
      Standard directors met at the company's Cleveland
  headquarters on Thursday in a regularly scheduled meeting. The
  spokesman was unable to say if the meeting would continue on
  Friday.
      A committee of independent directors previously obtained an
  opinion from First Boston Corp that the Standard shares were
  worth 85 dlrs each, 15 dlrs more than the BP offer.
  

