Rosneft: TNK-BP Integration 'Mostly Complete'

MOSCOW - The work to integrate the assets of TNK-BP into Russian oil major OAO Rosneft is mostly complete, Russian news agencies reported the company's chief executive Igor Sechin as saying Thursday. 

Mr. Sechin estimated that cost savings from the merger would amount to $12 billion. 

State-controlled oil giant Rosneft acquired a 95% stake in TNK-BP, Russia's third-largest oil company, on March 21 from BP PLC and its partners, a group of Soviet-born tycoons.


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


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

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Fire Protection Project Manager
Expertise: Engineering Manager
Location: Corona, CA
Account Manager
Expertise: Business Development|Sales
Location: Houston, TX
Account Manager
Expertise: Business Development
Location: Houston, TX
search for more jobs

Brent Crude Oil : $55.14/BBL 0.61%
Light Crude Oil : $49.48/BBL 0.86%
Natural Gas : $3.12/MMBtu 0.95%
Updated in last 24 hours