Rosneft CEO Sechin: Never Considered Buying TNK-BP - Interfax

Rosneft CEO Sechin: Never Considered Buying TNK-BP - Interfax

MOSCOW--Russian state-owned oil champion Rosneft never considered buying BP PLC's assets in Russian venture TNK-BP, Rosneft's Chief Executive Igor Sechin said, Interfax reported Friday.

"We never thought about it. This is a new situation that is just now developing on the market," Interfax quoted Sechin as saying.

When asked if the company would be interested in buying the stake, Sechin said: "We need to research the entire volume of information and make a decision after that."

U.K.-listed energy giant BP PLC said Friday it is pursuing the potential sale of its 50% stake in Russian joint venture TNK-BP Holding, a move that would free it from governance skirmishes there but also deprive it of significant earnings.

BP and its partner, AAR, have skirmished over corporate governance and the international role of TNK-BP, Russia's third largest crude producer, since the company was formed in 2003.

Copyright (c) 2012 Dow Jones & Company, Inc.


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