TNK-BP Company News

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Rosneft Board Member Rejects Criticism of TNK-BP Buyout
Rosneft Deputy Chairman Andrey Kostin rejects complaints that the price paid by the company to minority shareholders of TNK-BP is not high enough.
8:00 PM EST | October 03, 2013
Rosneft: TNK-BP Integration 'Mostly Complete'
Rosneft reports that the work to integrate the assets of TNK-BP into the Russian oil major's own operations is mostly complete.
8:00 PM EST | June 19, 2013
TNK-BP Acquisition Boosts Rosneft's 1Q Production
Rosneft enjoys an 82.4% boost to its production of hydrocarbons thanks to the TNK-BP acquisition.
8:00 PM EST | April 29, 2013
Rosneft to Achieve $2.4B Synergies with TNK-BP Integratioin
Rosneft sees it achieving $2.4 billion of synergies over the next three years from its integration with oil company TNK-BP.
8:00 PM EST | April 22, 2013
TNK-BP Boosts Production, Reserves
TNK-BP reports that it boosted its hydrocarbon production by 1.8 percent during 2012, while its total proved reserves hit 9.8 billion barrels.
8:00 PM EST | March 27, 2013
Rosneft Approves Loan of up to around $10 Billion from TNK-BP
Russian state-owned oil giant Rosneft's board of directors has approved a potential loan worth up to around $10 billion from TNK-BP, a joint-venture recently acquired by the Russian oil major, for a period of five years.
8:00 PM EST | March 25, 2013
BP Pays Down $4.5B of Debt with TNK-BP Proceeds
After using $8 billion of cash received from Rosneft to buy back stock, BP intends to use the remaining $4.5 billion to reduce its debt.
8:00 PM EST | March 21, 2013
Rosneft Becomes World's Largest Listed Oil Producer with Completion of Deal
Rosneft closes deals worth around $55 billion to take over TNK-BP and become the world's largest listed oil producer, with BP as a major shareholder.
8:00 PM EST | March 20, 2013
Russian Tycoons Sound Out Ex-BP Chiefs about Oil Deals
Members of Alfa Group, which is to benefit to the tune of billions from Rosneft's takeover of TNK-BP, talk to former BP CEOs John Browne and Tony Hayward about investing in international oil projects.
8:00 PM EST | March 13, 2013
Rosneft's TNK-BP Takeover Completed by End March
Rosneft's $55 billion takeover of TNK-BP will be completed by the end of March, according to sources.
8:00 PM EST | March 11, 2013
TNK-BP Profit Down in 4Q 2012
Rosneft acquisition TNK-BP reports that its fourth quarter net profit fell 11 percent year-on-year.
7:00 PM EST | February 27, 2013
TNK-BP to Target US Tight Oil
TNK-BP wants to gain access to US tight oil projects, according to an executive at the firm.
7:00 PM EST | February 19, 2013
Rosneft Approves $14.2B Deal to Buy TNK-BP
Rosneft says its board of directors have met to approve a $14.2B financing deal to fund its acquisition of 50-percent of TNK-BP from AAR.
7:00 PM EST | February 12, 2013
Russia's Rosneft to Lead Junin-6 Oil Project in Venezuela
Oil giant OAO Rosneft will become the leader of a Russian consortium that runs the Junin-6 oil block in Venezuela, a project being developed in partnership with state energy monopoly Petroleos de Venezuela.
7:00 PM EST | January 28, 2013
Halliburton 4Q, Full Year 2012 Revenues Rise
Halliburton saw record increases in its fourth quarter and full year 2012 revenues, but recorded a decline in its total year 2012 operating due to higher costs.
7:00 PM EST | January 24, 2013
Russian Oil Production to Peak Soon
Fitch Ratings estimates Russian oil production will probably peak within the next few years as gains from new fields are offset by falling output from brownfield sites.
7:00 PM EST | January 21, 2013
AAR To Invest Main Proceeds From TNK-BP Sale In Russia
The AAR consortium of Soviet-born billionaires will invest the main proceeds from a sale of stake in Russo-British oil venture TNK-BP into Russia's economy, Interfax news agency reported.
7:00 PM EST | December 24, 2012
Rosneft Gets $16.8B In Loans, Eyes Trade-Finance Deal With Traders
Rosneft says it has raised $16.8B in bank loans and also plans to sign a trade-finance package with two international oil traders to finance the buyout of TNK-BP.
7:00 PM EST | December 23, 2012
Rosneft Signs Deal with AAR for TNK-BP Stake
Russia's Rosneft signs $28 billion deal with Alfa-Access-Renova for AAR's 50-percent stake in TNK-BP.
7:00 PM EST | December 11, 2012
Rosneft Nears Agreement with AAR on Sales of $28B TNK-BP Stake
Russian oil giant Rosneft is close to a deal that could see it buy Alfa-Access-Renova's 50-percent stake in TNK-BP for $28 billion.
7:00 PM EST | December 10, 2012
Medvedev Says Rosneft's TNK-BP Deal an 'Exception' to Privatization Plan
Dmitry Medvedev, the Russian Prime Minister, says TNK-BP deal was an exception to the Russian state's plans to sell down its stake in Rosneft.
7:00 PM EST | November 25, 2012
Russian Government Approves Rosneft's TNK-BP Acquisition
Russia's government has approved Rosneft's $55 billion acquisition of TNK-BP from BP and its partners, a spokeswoman for Deputy Prime Minister Arkady Dvorkovich said.
7:00 PM EST | November 20, 2012
BP Agrees $325 Million Settlement with Russian Partners
BP agrees to pay its partners in the TNK-BP joint venture $325 million as part of a wide-ranging settlement deal.
7:00 PM EST | November 12, 2012
BP's Appeal Against $3B Russia Court Ruling Postponed
A Russian court postpones a hearing on BP's appeal to Dec. 14 against a ruling ordering it to pay just over $3B in damages relating to its Russian venture TNK-BP, Russian news agencies reported.
7:00 PM EST | November 08, 2012
Sources: Rosneft Seeks $32.5B Loan from International Banks in TNK-BP Buy
Rosneft has asked international banks to commit to a $32.5B loan to back its $55B acquisition of oil company TNK-BP Holding, two people familiar with the deal said.
7:00 PM EST | November 06, 2012
BP Appeal Against $3B Russia Court Ruling Postponed to Nov 9
BP's appeal against a court ruling ordering it to pay just over $3B to TNK-BP has been postponed to Nov. 9, BP's lawyer and state news agency RIA said.
8:00 PM EST | October 24, 2012
BP's Ability to Cover Macondo Costs Bolstered After TNK-BP Sale
Fitch Ratings maintains its debt rating for BP but says BP should not be able to cover any further legal costs arising from the 2010 Macondo spill.
8:00 PM EST | October 22, 2012
BP Agrees Terms for Sale of TNK-BP to Rosneft
BP says it has agreed 'heads of terms' to sell TNK-BP to Rosneft for $28 billion.
8:00 PM EST | October 21, 2012
TNK-BP Deploys New HSE Monitoring System across Business
TNK-BP says 'unique' health and safety monitoring system will help it react promptly to possible HSE incidents.
8:00 PM EST | October 18, 2012
Source: BP Receives Formal Offer from Rosneft for TNK-BP Stake
BP has received a formal offer from Rosneft for its 50% stake in Russian oil producer TNK-BP, a person familiar with the matter said.
8:00 PM EST | October 17, 2012
Russia PM: Rosneft Yet to Ask for Govt Approval to Buy TNK-BP Stake
Rosneft has not yet asked the government for permission to buy a stake in TNK-BP, Russian news agencies quoted a deputy prime minister as saying.
8:00 PM EST | October 16, 2012
Messoyakha Flows for Gazprom Neft, TNK-BP
Gazprom Neft and TNK-BP report that first oil has been produced by the pilot project at the Vostochno-Messoyakhskoe field.
8:00 PM EST | October 16, 2012
FT: Rosneft CEO Says Putin Backs BP, Rosneft Plan for TNK-BP
Russian President Vladimir Putin backs's plan to sell its stake in TNK-BP to Rosneft and use some of the proceeds to buy Rosneft shares, the head of the Russian company told the Financial Times.
8:00 PM EST | October 09, 2012
Foreign Companies Would Need Govt Approval to Buy TNK-BP Stake
International oil companies would need approval from the Russian government to buy a stake in Russia's third-largest oil company, TNK-BP Holding, Energy Minister Alexander Novak said.
8:00 PM EST | October 08, 2012
AAR Moves Closer to Buying Out BP's Stake in TNK-BP
The appointment of Rothschild Group to arrange loan signals clear intention by Alfa-Access-Renova to buy BP's stake in Russian joint venture TNK-BP.
8:00 PM EST | September 30, 2012
TNK-BP Mulling Colombia, Brazil Hydrocarbon Tenders
TNK-BP is interested in hydrocarbon tenders in Colombia and Brazil as it looks to expand its presence in South America, TNK-BP Senior Vice President for Exploration Chris Einchcomb told journalists.
8:00 PM EST | September 26, 2012
AAR would Likely Buy BP Stake with TNK-BP Funds
BP's stake in Russian joint venture would likely be purchased by AAR using funds from TNK-BP itself.
8:00 PM EST | September 25, 2012
BP: Could Use Some TNK-BP Sale Proceeds To Increase Rosneft Stake
BP said it aims to stay in Russia for decades to come and could use some of the proceeds from the potential sale of its stake in TNK-BP to increase its share in Russian oil giant OAO Rosneft.
8:00 PM EST | September 20, 2012
FT: Rosneft Seeks Financing of $15B for Potential TNK-BP Stake
Rosneft has approached London lenders for $15B in loans to back a potential purchase of 50% of BP's Russian oil venture TNK-BP, the Financial Times reported.
8:00 PM EST | September 18, 2012
Brazil's HRT Makes Natural Gas Discovery in Remote Amazon Region
HRT Participacoes em Petroleo SA has discovered natural gas in a well in the remote Amazon jungle region, calling the find one of the best the company has made in the area so far.
8:00 PM EST | August 19, 2012
BP Reassures Investors Over Missing TNK-BP Dividend
BP sought to reassure investors that cash flow from TNK-BP is not essential to its own ability to return money to shareholders.
8:00 PM EST | July 29, 2012
BP Loses TNK-BP Case in Russian Court
BP has been ordered to pay over $3.1 billion in damages to TNK-BP.
8:00 PM EST | July 26, 2012
Rosneft Negotiating to Take Over TNK-BP Stake
BP and Rosneft agree to begin talks over BP's 50-percent stake in Russian subsidiary.
8:00 PM EST | July 23, 2012
BP Calls for $1B TNK-BP Dividend
BP has proposed that its Russian joint venture TNK-BP pays shareholders a $1 billion interim dividend, TNK-BP said in a statement.
8:00 PM EST | July 21, 2012
BP, Russian Partners Enter Talks Over TNK-BP Sale
BP and Alfa Access Renova Group confirm they have entered talks that could result in AAR significantly increasing its shareholding in their JV TNK-BP.
8:00 PM EST | July 17, 2012
Gazprom Neft Makes Bid for BP's Stake in TNK-BP
An arm of Russian state-controlled Gazprom has lodged a bid for BP's $25 billion stake in its venture in the country, The Sunday Times reports.
8:00 PM EST | June 24, 2012
Despite TNK-BP Sale, BP Remains Committed to Russia
BP CEO Bob Dudley reiterated the firm's commitment to Russia at a presentation of BP's Statistical Review of World Energy 2012.
8:00 PM EST | June 12, 2012
Report: Gazprom Neft Has No Plans to Buy BP's Stake in TNK-BP
The head of Gazprom Neft said the company has no intention to buy BP's stake in TNK-BP, Prime news agency reported.
8:00 PM EST | June 07, 2012
BP Could Return Some Proceeds from TNK-BP Stake Sale to Shareholders
BP could return some of the proceeds from the sale of its stake in TNK-BP Holding to shareholders if such a divestment takes places, a company spokesman said Sunday.
8:00 PM EST | June 03, 2012
Sale of TNK-BP Stake Could Be 'Defining Transaction' for Dudley
The potential sale by BP of its half of TNK-BP could leave the 'Big Five' oil major vulnerable to takeover.
8:00 PM EST | May 31, 2012