BP: No Decision Taken to Sell Any of Its TNK-BP Shareholding, BP Russia

Release Date: 2011-06-08

BP said Tuesday it has no plans at present to divest any of its shareholding in TNK-BP Ltd.

BP's comments follow a report late Monday that the U.K. major was beginning preparations to sell part of its stake in the conflict-plaugued Russian venture to Rosneft in a bid to salvage a landmark cooperation deal with the Russian state oil company.

"BP has taken no decision to sell any of its shareholding in TNK-BP and there is no current intention to do so," a BP spokesman told Dow Jones Newswires.

Top BP executives notified the Russian billionaire shareholders in TNK-BP Monday that the U.K. company would soon send them a letter formally announcing the U.K. company's intention to sell down its 50% TNK-BP stake, the first step in such a sale, The Wall Street Journal reported Monday, citing people familiar with the situation.
Type: NORMAL
Company: BP Russia
Country: Russian Federation
Url: http://www.rigzone.com/news/article.asp?a_id=107821&rss=true
 
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