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.


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

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Environmental Monitoring Site Supervisor - Houston
Expertise: Emergency Response|Engineering Manager|Engineering Technician|Environmental Engineer|Environmental, Safety & Training
Location: Houston, TX
Yates Development Manager
Expertise: Business Development
Location: HOUSTON, TX
Account Manager
Expertise: Business Development
Location: Denver, CO
search for more jobs

Brent Crude Oil : $53.05/BBL 3.35%
Light Crude Oil : $49.43/BBL 3.38%
Natural Gas : $2.5/MMBtu 1.21%
Updated in last 24 hours