• 2012 September 20 15:37

  Rosneft on track to buy into TNK BP

  

  State-owned oil major Rosneft intends to contract $15bn worth of loans with foreign lenders to finance the acquisition of BP's stake in Anglo-Russian oil company TNK-BP, RBC Daily reported today.
  
  This issue emerged during yesterday's meeting between President Vladimir Putin, Rosneft's CEO and former Deputy Prime Minister Igor Sechin, and BP's Chairman Carl-Henric Svanberg and Executive Director Robert Dudley.
  
  BP is currently unable to operate on the Russian market outside TNK BP, and is seeking to back out of the joint venture with Russia's Alfa-Access-Renova (AAR) consortium, which claimed in late July that it considers the option of running TNK-BP with Rosneft on a parity basis to be acceptable. BP intends to remain involved on the Russian market after selling its stake in TNK BP, BP's executives claimed.

  Source: http://rbcnews.com/

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