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.

The newspaper said Gazprom Neft has made an offer for TNK-BP, citing three sources involved in the process. It did not identify the sources by name.

The move will increase pressure on AAR, the group controlled by BP's Russian billionaire partners that owns the other half of TNK-BP, said the newspaper.

BP could be not reached for comment.

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

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