Russian Government Approves Rosneft's TNK-BP Acquisition

MOSCOW - Russia's government has approved state-controlled oil giant OAO Rosneft's $55 billion acquisition of TNK-BP from BP PLC and its partners, a spokeswoman for Deputy Prime Minister Arkady Dvorkovich said Wednesday.

"All the directives on the purchase of 100% of TNK-BP by Rosneft have been signed," the spokeswoman said.

Rosneft agreed deals last month to buy TNK-BP, Russia's No. 3 crude producer, from BP and its partners, the AAR group of tycoons, for $55 billion in cash and shares.

Interfax Wednesday quoted an unnamed source as saying that Rosneft's board of directors had approved the purchase of the BP stake at a meeting Tuesday. A Rosneft spokeswoman confirmed the acquisition had been discussed, but declined to comment on any decision.

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

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
MOTIVA - Materials and Corrosion Engineer - Port Arthur, TX
Expertise: Chemist|Laboratory Ops / Tech|Legal|Metallurgist / Materials Engineering|Oiler|Pipe Inspection / NDT|Process Engineer|QA / QC / Inspection|Refinery / Plant Operations Supervisor|Refinery / Plant Operator|ROV Ops / Tech|Welding
Location: Port Arthur, TX
 
Jiffy Lube Fleet Sales Account Manager - (Virtual)
Expertise: Customer Service|Energy / Commodity Trading|Helicopter Pilot / Operations|Laboratory Ops / Tech|Legal|Marketing|ROV Ops / Tech|Sales
Location: Washington, DC
 
MOTIVA - Contracts Specialist - Houston, TX
Expertise: Helicopter Pilot / Operations|Laboratory Ops / Tech|Legal|ROV Ops / Tech|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $49.68/BBL 1.83%
Light Crude Oil : $48.33/BBL 3.10%
Natural Gas : $2.92/MMBtu 2.09%
Updated in last 24 hours