BP-Rosneft deal for TNK-BP stake advances

BP PLC has signed definitive agreements under which it will sell its half-interest in TNK-BP to Rosneft and increase its holding in Rosneft to 19.75% (OGJ Online, Oct. 22, 2012).

The agreements with Rosneft and Rosneftegaz followed approval by the Russian government of BP’s planned purchase of a 5.66% interest in Rosneft from Rosneftegaz for $4.8 billion.

That purchase will follow BP’s sale of TNK-BP stake for $17.1 billion in cash and shares representing 12.84% of Rosneft.

BP now holds 1.25% of Rosneft.

Related Articles

India’s ONGC to invest in Daman development in Arabian Sea

08/29/2014 India’s Oil & Natural Gas Corp. will invest $864.5 million to enhance natural gas and condensate production from its Tapti Daman block in the A...

Nexen boosts CNOOC’s first-half production

08/29/2014 Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, ...

Fitch: Drilling downturn might prompt some consolidation

08/28/2014 A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at fa...

Verma named managing director at India’s ONGC Videsh

08/27/2014 India’s ONGC Videsh Ltd. has named Narendra Verma its managing director. Verma’s previous positions include director of exploration of Maharatna ON...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected