TNK-BP Company News

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Rosneft Board Member Rejects Criticism of TNK-BP Buyout
Friday, October 04, 2013Rosneft Deputy Chairman Andrey Kostin rejects complaints that the price paid by the company to minority shareholders of TNK-BP is not high enough.

Rosneft: TNK-BP Integration 'Mostly Complete'
Thursday, June 20, 2013Rosneft reports that the work to integrate the assets of TNK-BP into the Russian oil major's own operations is mostly complete.

TNK-BP Acquisition Boosts Rosneft's 1Q Production
Tuesday, April 30, 2013Rosneft enjoys an 82.4% boost to its production of hydrocarbons thanks to the TNK-BP acquisition.

Rosneft to Achieve $2.4B Synergies with TNK-BP Integratioin
Tuesday, April 23, 2013Rosneft sees it achieving $2.4 billion of synergies over the next three years from its integration with oil company TNK-BP.

TNK-BP Boosts Production, Reserves
Thursday, March 28, 2013TNK-BP reports that it boosted its hydrocarbon production by 1.8 percent during 2012, while its total proved reserves hit 9.8 billion barrels.

Rosneft Approves Loan of up to around $10 Billion from TNK-BP
Tuesday, March 26, 2013Russian state-owned oil giant Rosneft's board of directors has approved a potential loan worth up to around $10 billion from TNK-BP, a joint-venture recently acquired by the Russian oil major, for a period of five years.

BP Pays Down $4.5B of Debt with TNK-BP Proceeds
Friday, March 22, 2013After using $8 billion of cash received from Rosneft to buy back stock, BP intends to use the remaining $4.5 billion to reduce its debt.

Rosneft Becomes World's Largest Listed Oil Producer with Completion of Deal
Thursday, March 21, 2013Rosneft closes deals worth around $55 billion to take over TNK-BP and become the world's largest listed oil producer, with BP as a major shareholder.

Russian Tycoons Sound Out Ex-BP Chiefs about Oil Deals
Thursday, March 14, 2013Members of Alfa Group, which is to benefit to the tune of billions from Rosneft's takeover of TNK-BP, talk to former BP CEOs John Browne and Tony Hayward about investing in international oil projects.

Rosneft's TNK-BP Takeover Completed by End March
Tuesday, March 12, 2013Rosneft's $55 billion takeover of TNK-BP will be completed by the end of March, according to sources.

TNK-BP Profit Down in 4Q 2012
Thursday, February 28, 2013Rosneft acquisition TNK-BP reports that its fourth quarter net profit fell 11 percent year-on-year.

TNK-BP to Target US Tight Oil
Wednesday, February 20, 2013TNK-BP wants to gain access to US tight oil projects, according to an executive at the firm.

Rosneft Approves $14.2B Deal to Buy TNK-BP
Wednesday, February 13, 2013Rosneft says its board of directors have met to approve a $14.2B financing deal to fund its acquisition of 50-percent of TNK-BP from AAR.

Russia's Rosneft to Lead Junin-6 Oil Project in Venezuela
Tuesday, January 29, 2013Oil giant OAO Rosneft will become the leader of a Russian consortium that runs the Junin-6 oil block in Venezuela, a project being developed in partnership with state energy monopoly Petroleos de Venezuela.

Halliburton 4Q, Full Year 2012 Revenues Rise
Friday, January 25, 2013Halliburton saw record increases in its fourth quarter and full year 2012 revenues, but recorded a decline in its total year 2012 operating due to higher costs.

Russian Oil Production to Peak Soon
Tuesday, January 22, 2013Fitch Ratings estimates Russian oil production will probably peak within the next few years as gains from new fields are offset by falling output from brownfield sites.

AAR To Invest Main Proceeds From TNK-BP Sale In Russia
Tuesday, December 25, 2012The AAR consortium of Soviet-born billionaires will invest the main proceeds from a sale of stake in Russo-British oil venture TNK-BP into Russia's economy, Interfax news agency reported.

Rosneft Gets $16.8B In Loans, Eyes Trade-Finance Deal With Traders
Monday, December 24, 2012Rosneft says it has raised $16.8B in bank loans and also plans to sign a trade-finance package with two international oil traders to finance the buyout of TNK-BP.

Rosneft Signs Deal with AAR for TNK-BP Stake
Wednesday, December 12, 2012Russia's Rosneft signs $28 billion deal with Alfa-Access-Renova for AAR's 50-percent stake in TNK-BP.

Rosneft Nears Agreement with AAR on Sales of $28B TNK-BP Stake
Tuesday, December 11, 2012Russian oil giant Rosneft is close to a deal that could see it buy Alfa-Access-Renova's 50-percent stake in TNK-BP for $28 billion.

Medvedev Says Rosneft's TNK-BP Deal an 'Exception' to Privatization Plan
Monday, November 26, 2012Dmitry Medvedev, the Russian Prime Minister, says TNK-BP deal was an exception to the Russian state's plans to sell down its stake in Rosneft.

Russian Government Approves Rosneft's TNK-BP Acquisition
Wednesday, November 21, 2012Russia's government has approved Rosneft's $55 billion acquisition of TNK-BP from BP and its partners, a spokeswoman for Deputy Prime Minister Arkady Dvorkovich said.

BP Agrees $325 Million Settlement with Russian Partners
Tuesday, November 13, 2012BP agrees to pay its partners in the TNK-BP joint venture $325 million as part of a wide-ranging settlement deal.

BP's Appeal Against $3B Russia Court Ruling Postponed
Friday, November 09, 2012A Russian court postpones a hearing on BP's appeal to Dec. 14 against a ruling ordering it to pay just over $3B in damages relating to its Russian venture TNK-BP, Russian news agencies reported.

Sources: Rosneft Seeks $32.5B Loan from International Banks in TNK-BP Buy
Wednesday, November 07, 2012Rosneft has asked international banks to commit to a $32.5B loan to back its $55B acquisition of oil company TNK-BP Holding, two people familiar with the deal said.

BP Appeal Against $3B Russia Court Ruling Postponed to Nov 9
Thursday, October 25, 2012BP's appeal against a court ruling ordering it to pay just over $3B to TNK-BP has been postponed to Nov. 9, BP's lawyer and state news agency RIA said.

BP's Ability to Cover Macondo Costs Bolstered After TNK-BP Sale
Tuesday, October 23, 2012Fitch Ratings maintains its debt rating for BP but says BP should not be able to cover any further legal costs arising from the 2010 Macondo spill.

BP Agrees Terms for Sale of TNK-BP to Rosneft
Monday, October 22, 2012BP says it has agreed 'heads of terms' to sell TNK-BP to Rosneft for $28 billion.

TNK-BP Deploys New HSE Monitoring System across Business
Friday, October 19, 2012TNK-BP says 'unique' health and safety monitoring system will help it react promptly to possible HSE incidents.

Source: BP Receives Formal Offer from Rosneft for TNK-BP Stake
Thursday, October 18, 2012BP has received a formal offer from Rosneft for its 50% stake in Russian oil producer TNK-BP, a person familiar with the matter said.

Russia PM: Rosneft Yet to Ask for Govt Approval to Buy TNK-BP Stake
Wednesday, October 17, 2012Rosneft has not yet asked the government for permission to buy a stake in TNK-BP, Russian news agencies quoted a deputy prime minister as saying.

Messoyakha Flows for Gazprom Neft, TNK-BP
Wednesday, October 17, 2012Gazprom Neft and TNK-BP report that first oil has been produced by the pilot project at the Vostochno-Messoyakhskoe field.

FT: Rosneft CEO Says Putin Backs BP, Rosneft Plan for TNK-BP
Wednesday, October 10, 2012Russian President Vladimir Putin backs's plan to sell its stake in TNK-BP to Rosneft and use some of the proceeds to buy Rosneft shares, the head of the Russian company told the Financial Times.

Foreign Companies Would Need Govt Approval to Buy TNK-BP Stake
Tuesday, October 09, 2012International oil companies would need approval from the Russian government to buy a stake in Russia's third-largest oil company, TNK-BP Holding, Energy Minister Alexander Novak said.

AAR Moves Closer to Buying Out BP's Stake in TNK-BP
Monday, October 01, 2012The appointment of Rothschild Group to arrange loan signals clear intention by Alfa-Access-Renova to buy BP's stake in Russian joint venture TNK-BP.

TNK-BP Mulling Colombia, Brazil Hydrocarbon Tenders
Thursday, September 27, 2012TNK-BP is interested in hydrocarbon tenders in Colombia and Brazil as it looks to expand its presence in South America, TNK-BP Senior Vice President for Exploration Chris Einchcomb told journalists.

AAR would Likely Buy BP Stake with TNK-BP Funds
Wednesday, September 26, 2012BP's stake in Russian joint venture would likely be purchased by AAR using funds from TNK-BP itself.

BP: Could Use Some TNK-BP Sale Proceeds To Increase Rosneft Stake
Friday, September 21, 2012BP said it aims to stay in Russia for decades to come and could use some of the proceeds from the potential sale of its stake in TNK-BP to increase its share in Russian oil giant OAO Rosneft.

FT: Rosneft Seeks Financing of $15B for Potential TNK-BP Stake
Wednesday, September 19, 2012Rosneft has approached London lenders for $15B in loans to back a potential purchase of 50% of BP's Russian oil venture TNK-BP, the Financial Times reported.

Brazil's HRT Makes Natural Gas Discovery in Remote Amazon Region
Monday, August 20, 2012HRT Participacoes em Petroleo SA has discovered natural gas in a well in the remote Amazon jungle region, calling the find one of the best the company has made in the area so far.

BP Reassures Investors Over Missing TNK-BP Dividend
Monday, July 30, 2012BP sought to reassure investors that cash flow from TNK-BP is not essential to its own ability to return money to shareholders.

BP Loses TNK-BP Case in Russian Court
Friday, July 27, 2012BP has been ordered to pay over $3.1 billion in damages to TNK-BP.

Rosneft Negotiating to Take Over TNK-BP Stake
Tuesday, July 24, 2012BP and Rosneft agree to begin talks over BP's 50-percent stake in Russian subsidiary.

BP Calls for $1B TNK-BP Dividend
Sunday, July 22, 2012BP has proposed that its Russian joint venture TNK-BP pays shareholders a $1 billion interim dividend, TNK-BP said in a statement.

BP, Russian Partners Enter Talks Over TNK-BP Sale
Wednesday, July 18, 2012BP and Alfa Access Renova Group confirm they have entered talks that could result in AAR significantly increasing its shareholding in their JV TNK-BP.

Gazprom Neft Makes Bid for BP's Stake in TNK-BP
Monday, June 25, 2012An 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.

Despite TNK-BP Sale, BP Remains Committed to Russia
Wednesday, June 13, 2012BP CEO Bob Dudley reiterated the firm's commitment to Russia at a presentation of BP's Statistical Review of World Energy 2012.

Report: Gazprom Neft Has No Plans to Buy BP's Stake in TNK-BP
Friday, June 08, 2012The head of Gazprom Neft said the company has no intention to buy BP's stake in TNK-BP, Prime news agency reported.

BP Could Return Some Proceeds from TNK-BP Stake Sale to Shareholders
Monday, June 04, 2012BP could return some of the proceeds from the sale of its stake in TNK-BP Holding to shareholders if such a divestment takes places, a company spokesman said Sunday.

Sale of TNK-BP Stake Could Be 'Defining Transaction' for Dudley
Friday, June 01, 2012The potential sale by BP of its half of TNK-BP could leave the 'Big Five' oil major vulnerable to takeover.