BP to Sell Its Stake in TNK-BP (Russia)

BP to Sell its Stake in TNK-BP  (Russia)

British oil major BP announced today that it has received unsolicited indications of interest regarding the potential acquisition of its stake in TNK-BP.

TNK-BP is a leading Russian oil company, owned equally by BP and Alfa Access 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 Alfa Access Renova.

BP has notified Alfa Access Renova of its intention to pursue a potential sale, and added that there can be no guarantee that any transaction will take place.

TNK-BP is vertically integrated with a diversified upstream and downstream portfolio in Russia and Ukraine and international interests in Brazil, Venezuela and Vietnam.

Offshore Energy Today Staff, June 1, 2012