Rosneft to Achieve $2.4B Synergies with TNK-BP Integratioin
MOSCOW - OAO Rosneft sees $2.4 billion of synergies over the next three years from its integration with oil company TNK-BP, which it acquired last month, Chief Financial Officer Svyatoslav Slavinsky said Tuesday.
Total synergies from the merger are expected to reach $10 billion, he told a meeting of investors in London. Capex savings from the merger will be worth $3.4 billion, he said.
Rosneft last month acquired TNK-BP from BP PLC (BP) and a group of Soviet-born billionaires in deals worth $60 billion.
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