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Rosneft will own 5% of global oil output

October 23, 2012, 16:17 UTC+3
Deal with TNK-BP will allow Rosneft to become the world’s biggest company by proven hydrocarbon reserves
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MOSCOW, October 23 (Itar-Tass) — Russia’s state-controlled oil company Rosneft will own 5 percent of the global oil output after buying privately-owned TNK-BP, Rosneft President Igor Sechin said during a telephone conference on Tuesday.

“The deal to buy TNK-BP will allow Rosneft to become the world’s biggest company by proven hydrocarbon reserves among public companies and thus will turn Rosneft into the world’s largest publicly traded oil producer,” he said.

After the deal the company’s proven hydrocarbon reserves will grow from 23.4 billion barrels to 38.3 billion barrels of oil equivalent, the output of liquid hydrocarbons – from 2.4 million barrels to 4.1 million barrels per day and the total hydrocarbons output – from 2.6 million barrels to 4.6 million barrels per day.

 

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