AAR Agrees to Sell TNK-BP Stake for $28 Billion (Russia)

AAR Agrees to Sell TNK-BP Stake for $28 billion

Russian consortium AAR has decided to sell its share in TNK-BP to Rosneft for USD 28 billion, Reuters has reported, citing a source close to the matter.

TNK-BP is Russia’s third largest oil company and is parity-owned by UK’s BP and AAR (a consortium of Alfa Group, Access Industries, and Renova). The company was formed in 2003 as the result of the merger of BP’s Russian oil and gas assets and the oil and gas assets of AAR.

BP itself, in June announced it would put its stake in TNK-BP up for sale. The deadline for the potential bids runs out tomorrow, October 18, but the company has said that there can be no guarantee that any transaction will take place. A person close to the British oil giant told Financial Times that the agreement between AAR and Rosneft is good for BP as its sets “a good price point” for the remaining 50 per cent of TNK-BP owned by BP.

Offshore Energy Today Staff, October 17, 2012

 

 

 

 

 

 

 

Share this article

Follow Offshore Energy Today

2 thoughts on “AAR Agrees to Sell TNK-BP Stake for $28 Billion (Russia)”

Comments are closed.

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply