Arab Today, arab today rosneft set to strike massive tnkbp deal
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Rosneft set to strike massive TNK-BP deal

Arab Today, arab today

Arab Today, arab today Rosneft set to strike massive TNK-BP deal

Moscow - AFP

Rosneft was due Thursday to become the world\'s largest publicly traded oil company when it strikes a deal for BP\'s stake in the British giant\'s troubled TNK-BP joint venture believed to be worth nearly $30 billion. The government-owned Russian oil leader needed to wait until a 0800 GMT deadline to expire before making a formal proposal for BP\'s half in TNK-BP during talks in London between company chief Igor Sechin and the British group\'s executives. The Financial Times reported that the cash-and-shares deal would be worth $28 billion and see BP grab a stake of between 10 and 20 percent in Rosneft -- up significantly on its current 1.4 percent holding in the giant. Rosneft and the four Russian billionaires who own the other half of TNK-BP had signed a memorandum of understanding on Tuesday that would see the state firm acquire the tycoon\'s half at a later date. The billionaires have experienced strained ties with the Russian government and were forced to concede that a company run by them and Rosneft jointly would most likely fail to function and require them to eventually sell their stake. Various reports put the value of the deal with the tycoons -- to be most likely completed after the BP swap is set in place -- at $28-$29 billion. The Financial Times said the BP board will consider Rosneft\'s Thursday offer on Friday. The expected deal will make Rosneft into the world\'s biggest publicly traded oil producer with daily crude output of more than three million barrels a day -- far more than current leader ExxonMobil\'s 2.3 million barrel figure.

arabstoday
arabstoday

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 rosneft set to strike massive tnkbp deal Arab Today, arab today rosneft set to strike massive tnkbp deal

 



Arab Today, arab today

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 rosneft set to strike massive tnkbp deal Arab Today, arab today rosneft set to strike massive tnkbp deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
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