Arab Today, arab today bp rosneft they have signed off on tnkbp sale
Last Updated : GMT 19:22:09
Arab Today, arab today
Arab Today, arab today

BP, Rosneft: they have signed off on TNK-BP sale

Arab Today, arab today

Arab Today, arab today BP, Rosneft: they have signed off on TNK-BP sale

Moscow - AFP

British oil major BP and Russian group Rosneft said Thursday that they have signed a final agreement on the sale by BP to Rosneft of half of the third biggest Russian oil company, TNK-BP, as part of a major shift in strategy by the British company. \"BP, Rosneft and Rosneftegaz -- the state-owned parent company of Rosneft -- have signed definitive and binding sale and purchase agreements for the sale of BP\'s 50 percent interest in TNK-BP to Rosneft and BP\'s investment in Rosneft,\" a BP statement said. The deal is still subject to approval by regulatory authorities and should be completed \"in the first half of 2013,\" it added. Once all parts of the complex transaction have been finalised, Rosneft is set to become one of the world\'s biggest oil companies while BP stands to gain crucial access to Arctic oil reserves. On October 22, Rosneft announced that it had reached an agreement with BP and a consortium of Russian billionaires known as AAR to purchase their respective 50 percent holdings in TNK-BP, a lucrative oil producer that was mired in a dispute among its shareholders. Under the terms of its deal with Rosneft, BP is to receive $17.1 billion in cash and shares giving it 12.84 percent of the equity in Rosneft. BP also plans to buy a separate 5.66 percent stake in Rosneft from the Russian state for $4.8 billion, which along with a small stake of 1.25 percent that BP already owns, would give it 19.75 percent of Rosneft\'s equity in all. That acquisition was \"an integral part of the transaction,\" BP noted. Rosneft added in a separate statement that it was also close to agreement with AAR on the acquisition of the other half of TNK-BP for $28 billion. When the transactions have been completed, Rosneft is set to become the world\'s biggest oil company in terms of market capitalisation. BP, which wants to reposition itself after the Gulf of Mexico oil spill disaster in 2010, would then own a major share of the Russian group and could thus have access to major exploration projects in the Arctic, analysts say.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp rosneft they have signed off on tnkbp sale Arab Today, arab today bp rosneft they have signed off on tnkbp sale

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday