Russia cuts oil output by 200,000 barrels a dayBusiness & Economy March 30, 8:09
Russian historical epic Viking to be released in Italy, UKSociety & Culture March 30, 2:11
Putin visits ice cave during Arctic tourSociety & Culture March 30, 0:02
Moscow slams West’s reaction to Russian protests as part of long-planned campaignRussian Politics & Diplomacy March 29, 23:56
Putin orders Defense Ministry and FSB to ensure protection of Russia’s interests in ArcticMilitary & Defense March 29, 21:46
Kiev aware of few chances to win in debt lawsuit case — envoyBusiness & Economy March 29, 20:52
Russian top diplomat dismisses claims about human rights violations in Crimea as liesRussian Politics & Diplomacy March 29, 20:23
Moscow suspects Jabhat al-Nusra could be used to topple AssadRussian Politics & Diplomacy March 29, 19:58
Lavrov reiterates there are no facts substantiating Iran’s links to terroristsRussian Politics & Diplomacy March 29, 19:40
MOSCOW, July 31 (Itar-Tass) – The Russian Federal Antimonopoly Service (FAS) Russia has not yet received an application from Rosneft for the purchase of British Petroleum shares in TNK-BP, FAS head Igor Artemyev told journalists, noting that the decision of his agency on this application will depend on the nature of the transaction. The FAS is likely to welcome the establishment of a joint venture for the development of fields, because such joint ventures are created for a certain period of time for specific goals.
Artemyev said that if Rosneft wants to buy a concrete stake in TNK-BP, the decision of the antimonopoly authority will also depend on the size of the package. “If it is a majority stake, then we will face big problems related to a significant increase of concentration on the relevant market,” he said. If it is a package of less than 25 percent of shares, then such transaction will not influence anything, and if less than a controlling stake, but more than 25 percent, then such a transaction would have a little impact on the market.
Meanwhile, Rosneft has informed British Petroleum of its interest in the acquisition of BP’s stake in TNK-BP. As a result, the parties agreed to begin negotiations on the issue and sign a confidentiality agreement. Rosneft believes that the acquisition of BP’s stake in TNK-BP will benefit both the shareholders of Rosneft and BP shareholders and will be aimed at the further development of TNK-BP.
TNK-BP belongs on a parity basis (50 by 50) to BP and AAR consortium (one of the participants in which is Russian businessman Mikhail Fridman).
AAR filed with Britain’s court and the Stockholm Court of Arbitration a claim against BP, accusing it of violating the shareholder agreement. The reason for this was a deal between BP and Rosneft to develop oil fields in the Russian Arctic, concluded in early 2011.
On June 1, BP officially informed the partners about the possible sale of its stake in TNK-BP Group. The British company said it would sell all 50 percent of its shares. According to analysts, BP intends to get for them up to 30 billion US dollars.
Rosneft – is the leader of the Russian oil industry and one of the largest public oil and gas companies in the world. The main activities of Rosneft are exploration and production of oil and natural gas, production of petroleum products and petrochemicals and marketing of these products. Rosneft conducts oil and gas exploration and production activities on the Sakhalin Island, in Siberia, Timan-Pechora field and southern Russia, including Chechnya. It owns and operates two refineries. The refinery in Tuapse, on the Black Sea, focuses on refining high-gravity oil from western Siberia. Another plant in Komsomolsk-on-Amur is the easternmost refinery in Russia. The company is included in the list of Russia’s strategic enterprises. Its main shareholder (75.16 percent of shares) is Rosneftegaz that is 100 percent state-owned.