ISSN 2330-717X

Rosneft Tells BP It’s Interested In Buying BP’s Stake In TNK-BP

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Rosneft said Tuesday that, in connection with BP’s recent statements regarding its intention to pursue a potential sale of its participation in TNK-BP, Rosneft has informed BP of Rosneft’s interest in a potential acquisition of such participation.

As a result, the parties agreed to commence negotiations on this matter and signed a non-disclosure agreement.

The Rosneft headquarters on the bank of the Moskva River in Balchug
The Rosneft headquarters on the bank of the Moskva River in Balchug

Rosneft has been informed that the other TNK-BP shareholders have also indicated their interest in acquiring part or all of BP’s participation and that BP has an obligation under the shareholders’ agreement to negotiate in good faith with the other shareholders.

Rosneft said that it believes that an acquisition of BP’s interest in TNK-BP would be in the best interest of both Rosneft’s and BP’s shareholders and would lead to further development of TNK-BP.

There can be no assurance that Rosneft and BP will enter into any transaction involving TNK-BP.

A further announcement will be made when and if appropriate, Rosneft said.

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