Russian state oil company Rosneft closed a historic deal to buy TNK-BP from UK-based BP and four tycoons, releasing $40 billion cash to the sellers and becoming a bigger oil producer than Exxon Mobil, the world’s No.1 investor-owned compan
Lower output from TNK-BP's mature fields led to an overall decrease in Russia's crude oil production, the world's largest, which edged down 0.1 per cent in January, Energy Ministry data showed yesterday.
Rosneft, seeking to finance Russia's largest-ever takeover deal, has raised $16.8 billion in bank loans and agreed on long-term trade finance deals with the world's largest oil traders, Glencore and Vitol.
BP chief executive Tony Hayward met billionaire TNK-BP shareholder Mikhail Fridman in London on Wednesday to discuss a dispute over the Russian oil venture, sources close to both shareholders said on Thursday.
’Fridman met Hayward in Londo
Foreign investors in Russia should tread with caution, the head of BP said on Tuesday amid a dispute between BP and Russia-connected shareholders in their TNK-BP venture.
BP chief executive Tony Hayward also said at a news conference that
The chief executive of BP's Russian venture TNK-BP left Russia on Thursday, blaming a campaign of harassment as a fight for control between BP and its partners hit a new peak.
"In the light of the uncertainties surrounding the status of my
Russia's tax service is claiming 6 billion roubles ($255.6 million) in back taxes on several units of BP's Russian venture TNK-BP, the firm said on Wednesday.
The claim refers to the 2004-2005 tax period and includes a wide range of taxes
British oil firm BP has sold its stake in a Siberian gas field development to Russian state-controlled firm Gazprom.
BP's Russian joint venture TNK-BP has agreed to sell Gazprom its majority interests in the giant Kovykta field for betwee