Russia PM: Rosneft Yet to Ask for Govt Approval to Buy TNK-BP Stake
MOSCOW - Russian state-controlled oil giant OAO Rosneft has not yet asked the government for permission to buy a stake in Anglo-Russian oil producer TNK-BP, Russian news agencies quoted a deputy prime minister as saying Wednesday.
"I have heard that a declaration of intent has been signed. There are no legally binding documents as yet," Arkady Dvorkovich said, Prime and Interfax news agencies report. "No one has asked us for (government) approval, at least, not formally."
Rosneft has reached a preliminary deal to buyout the group of billionaires, known as AAR, which owns a 50% stake in TNK-BP, people familiar with the matter told The Wall Street Journal earlier Wednesday. BP PLC, which owns the other 50%, is nearing a deal to sell its 50% stake in Russia's third-largest crude producer, the people said.
Mr. Dvorkovich said Rosneft's potential purchase would require approval by the government and a government directive to proceed. He earlier said the government was against state companies expanding their participation in the economy.
WHAT DO YOU THINK?
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.
- Russia's Rosneft Signs Oil Supply Deal With Greece's Motor Oil (Nov 20)
- Eni Looks To Strengthen Ties With Rosneft, Maybe In LNG (Oct 19)
- Kremlin Oil Major Piles Up Investments In Iraq's Kurdistan Amid Crisis (Oct 18)
Company: TNK-BP more info
- Rosneft Board Member Rejects Criticism of TNK-BP Buyout (Oct 04)
- Rosneft: TNK-BP Integration 'Mostly Complete' (Jun 20)
- TNK-BP Acquisition Boosts Rosneft's 1Q Production (Apr 30)