Search results for: TNK-BP Stake

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  • 13 November 2012

    UK’s BP and Russian consortium AAR, joint shareholders in TNK-BP, today announced that they have reached a comprehensive agreement to settle all outstanding disputes between them, including the current arbitrations brought by each against the other. The agreement includes an immediate waiver of the new opportunities provision in the TNK-BP shareholder agreement, allowing each party […]

  • 17 October 2012

    Russian consortium AAR has decided to sell its share in TNK-BP to Rosneft for USD 28 billion, Reuters has reported, citing a source close to the matter. TNK-BP is Russia’s third largest oil company and is parity-owned by UK’s BP and AAR (a consortium of Alfa Group, Access Industries, and Renova). The company was formed […]

  • 22 October 2012
    Business & Finance

    BP announced that it has signed heads of terms to sell its 50 per cent share in TNK-BP to Rosneft, the major Russian integrated oil and gas company. Under the heads of terms Rosneft has agreed in principle to buy BP’s share in TNK-BP. The proposed transaction consists of two tranches: (i) BP would sell […]

  • 13 February 2013

    Russia’s Rosneft today, February 13,  signed loan agreements for the total amount of U.S. $14.212 billion. The money raised will be used for the acquisition of a 50% stake in TNK-BP Ltd. from AAR (Alfa, Access, Renova) Consortium. The cost of the financing that is being arranged is one of the lowest at the Russian […]

  • 23 November 2012

    BP, Rosneft and Rosneftegaz — the state-owned parent company of Rosneft — have signed definitive and binding sale and purchase agreements (SPAs) for the sale of BP’s 50 per cent interest in TNK-BP to Rosneft and BP’s investment in Rosneft. BP and Rosneft agreed heads of terms for this transaction on October 22. The SPAs […]

  • 30 December 2012
    Business & Finance, Equipment, Project & Tenders

      1.Four Crew Members Kidnapped Off Nigeria Four crew members have been kidnapped off Nigeria’s coast from an Italian platform supply vessel. Armed pirates have attecked the vessel MV Asso Ventuno, operated by Naples-based Augusta Offshore, on Sunday evening about 40 miles (65 km) off the coast of Nigeria’s Bayelsa state.   2.South Korea’s DSME […]

  • 24 December 2012
    Business & Finance

    Russia’s oil company Rosneft has signed two loan agreements with a group of international banks for the total amount of U.S. $16.8 billion to finance the acquisition of 50% stake in TNK-BP from BP. Pursuant to these loan agreements, Rosneft obtains a 5-year loan of U.S.$ 4.1 billion and a 2-year loan of U.S.$12.7 billion […]

  • 1 June 2012

    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 […]

  • 21 October 2011
    Business & Finance

    TNK-BP said recently that the Vietnamese Ministry of Investment and Trade has granted TNK Vietnam, the Vietnam-based subsidiary of TNK-BP Group, the investment license to operate offshore gas Block 06.1, part of the Nam Con Son Integrated Gas to Power Project. TNK-BP has acquired from BP a 35% stake in the offshore gas condensate production […]

  • 23 November 2012

    BP, Rosneft and Rosneftegaz , the state – owned parent company of Rosneft, have signed definitive and binding sale and purchase agreements (SPAs) for the sale of BP’s 50 per cent interest in TNK-BP to Rosneft and BP’s investment in Rosneft. BP and Rosneft agreed heads of terms for this transaction on October 22. The […]

  • 4 September 2008

    BP confirmed on Thursday that it has signed an agreement aimed at keeping its half stake in TNK-BP – Russia’s third-biggest oil company. The development apparently resolves a long-ranging battle for control with its local partners. BP said in a statement that an overhaul of the governance structure of TNK-BP was agreed in principle by […]

  • 13 December 2012

    Rosneft has signed an agreement to purchase from the AAR Consortium (Alfa Group, Access Industries and Renova) its 50% stake in TNK-BP. The purchase price in the transaction is determined based on the base value of AAR’s stake in TNK-BP of $28 bln. Completion of the transaction is subject to approvals from Russian and European […]

  • 22 October 2012

    BP announced that it has signed heads of terms to sell its 50 per cent share in TNK-BP to Rosneft, the major Russian integrated oil and gas company. Under the heads of terms Rosneft has agreed in principle to buy BP’s share in TNK-BP. The proposed transaction consists of two tranches: BP would sell its […]

  • 18 October 2012

    After it was yesterday reported that AAR consortium has agreed to sell its stake in TNK-BP for $28 billion to Rosneft, Bloomberg today announced that Rosneft has also tabled a similar bid for BP’s stake in TNK-BP. The value of the potential acquisition will reach an estimated $56 billion, which would be the second largest […]

  • 21 March 2013
    Business & Finance

    Russia’s state-owned oil company Rosneft has today completed one of the largest oil industry acquisitions in history. Rosneft today finalised two separate transactions with British oil company BP and Russia’s AAR consortium to acquire TNK-BP. Rosneft has bought BP’s 50% share in TNK-BP in exchange for $16.65 billion in cash and 12.84% of Rosneft shares. […]

  • 31 January 2013

    BP announced the appointment of Michael Townshend as Senior Vice President – Russia BP Group, reporting directly to Bob Dudley, BP Group Chief Executive. Townshend, who is currently BP Regional President, Iraq will take up his new position from 1 March 2013. He has 32 years’ experience in BP working across a wide range of […]

  • 20 April 2012
    Business & Finance

    TNK-BP announced yesterday that the group’s subsidiary TNK Vietnam has successfully completed the drilling of two development wells on the Lan Đỏ offshore field in Vietnam. TNK Vietnam began drilling operations on subsea development wells on January 14, 2012. Their construction on the Lan Đỏ field took 94 days to complete and proceeded at depths […]

  • 31 January 2013

    BP today announced the appointment of Michael Townshend as Senior Vice President – Russia BP Group, reporting directly to Bob Dudley, BP Group Chief Executive. Townshend, who is currently BP Regional President, Iraq will take up his new position from 1 March 2013. He has 32 years’ experience in BP working across a wide range […]

  • 22 March 2013
    Business & Finance

    BP announced today that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to return to BP shareholders an […]

  • 26 December 2013

    Russia’s Rosneft has repaid a portion of a loan received earlier from a group of international banks to support the acquisition of TNK-BP.   With the early repayment announced earlier, the overall amount paid towards the settlement of the principal debt totaled around USD 5.1 billion. Igor Sechin, President of Rosneft, commented: “Financial standing of Rosneft […]

  • 21 March 2013

    Rosneft and BP today completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions: BP receives net $12.48 billion in cash, including a TNK-BP dividend of $0.71 billion, and 18.5 per cent Rosneft shares; Rosneft becomes holder of BP’s 50 per cent interest in TNK-BP […]

  • 22 March 2013

    BP announced that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to return to BP shareholders an amount […]