BP: No Decision Taken to Sell Any of Its TNK-BP Shareholding

LONDON (Dow Jones Newswires), June 7, 2011

BP said Tuesday it has no plans at present to divest any of its shareholding in TNK-BP Ltd.

BP's comments follow a report late Monday that the U.K. major was beginning preparations to sell part of its stake in the conflict-plaugued Russian venture to Rosneft in a bid to salvage a landmark cooperation deal with the Russian state oil company.

"BP has taken no decision to sell any of its shareholding in TNK-BP and there is no current intention to do so," a BP spokesman told Dow Jones Newswires.

Top BP executives notified the Russian billionaire shareholders in TNK-BP Monday that the U.K. company would soon send them a letter formally announcing the U.K. company's intention to sell down its 50% TNK-BP stake, the first step in such a sale, The Wall Street Journal reported Monday, citing people familiar with the situation.

Copyright (c) 2011 Dow Jones & Company, Inc.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Sr. Project Manager
Expertise: Project Engineer|Project Management
Location: Odessa, 
 
Administrative Assistant IV
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
 
US Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours