BP and Rosneft on brink of announcing deal October 22, 2012 BP and Rosneft are on the verge of announcing a deal worth more than $25bn (£16bn), that will see the British oil major exit troubled joint venture TNK-BP and take a stake in the Russian state-controlled energy firm, it is understood. The deal has yet to be finalised, although BP this morning confirmed this morning [...]
Rosneft profit jumps ahead of $55bn TNK-BP takeover November 1, 2012 KREMLIN-controlled energy producer Rosneft yesterday posted soaring profits, just a week after announcing its $55bn (£34bn) acquisition of Anglo-Russian oil firm TNK-BP. Profit for the three months to September came in at a five-year high of 181bn rubles (£3.59bn), up from a loss of 8bn rubles in the previous quarter, thanks to higher oil prices, [...]
Rosneft profit jumps ahead of $55bn TNK-BP takeover November 1, 2012 KREMLIN-controlled energy producer Rosneft yesterday posted soaring profits, just a week after announcing its $55bn (£34bn) acquisition of Anglo-Russian oil firm TNK-BP. Profit for the three months to September came in at a five-year high of 181bn rubles (£3.59bn), up from a loss of 8bn rubles in the previous quarter, thanks to higher oil prices, [...]
AAR eyes entire TNK-BP stake as talks persist October 4, 2012 GERMAN Khan, director of Russian oil company TNK-BP, said yesterday that his consortium AAR will make a “competitive” offer for BP’s 50 per cent stake in TNK-BP. Khan said AAR, which already owns 50 per cent of TNK-BP, has been organising funding for the sale of the stake. It will make an offer by 17 [...]
Oligarchs could float TNK-BP if bid for BP stake is successful October 9, 2012 RUSSIAN conglomerate AAR is considering floating off part of TNK-BP if it buys out BP’s stake. It comes after AAR, controlled by four Russian billionaires, yesterday said it was considering disposing of its 50 per cent stake in the Russian oil company. It is understood that AAR’s notification to sell its stake is a way [...]
Oligarchs could float TNK-BP if bid for BP stake is successful October 9, 2012 RUSSIAN conglomerate AAR is considering floating off part of TNK-BP if it buys out BP’s stake. It comes after AAR, controlled by four Russian billionaires, yesterday said it was considering disposing of its 50 per cent stake in the Russian oil company. It is understood that AAR’s notification to sell its stake is a way [...]
TNK-BP seals $675m finance September 25, 2012 RUSSIA’S third-largest oil company TNK-BP has signed a $675m loan with a group of banks, falling short of its targeted $750m after one bank was unable to commit to the financing, banking sources said yesterday. The firm, which is in the middle of a tug-of-war between the Kremlin and shareholders BP and AAR, will use [...]
Rosneft seeks $15bn from banks to finance stake buy in TNK-BP September 19, 2012 RUSSIAN oil company Rosneft is understood to be talking to banks about raising $15bn (£9.2bn) in financing to buy BP’s stake in TNK-BP, following BP chief Bob Dudley’s meeting with Vladimir Putin to discuss the sale. Putin met with Dudley, BP chairman Carl-Henric Svanberg and Rosneft chief executive Igor Sechin to get an update on [...]
BP proposes buying stake in Rosneft September 21, 2012 Oil giant BP is eyeing a stake in Rosneft, following negotiations with the Russian oil firm to buy the British oil major’s stake in TNK-BP, Rosneft chief executive Igor Sechin said today. BP confirmed today that if it were successful in selling its 50 per cent stake in TNK-BP, it would be “interested in investing [...]
BP’s oligarch partners raise the stakes as they seek bankers to help buy out TNK-BP September 26, 2012 THE RUSSIAN partner of oil giant BP is holding a banking beauty parade as it gears up to bid for BP’s entire 50 per cent stake in oil explorer TNK-BP. AAR, the vehicle used by a quartet of Russian billionaires to hold the other half of TNK-BP, is willing to raise its offer to BP [...]