Oil giant BP was Friday reported to be
considering a multi-billion offer by state-owned Russian company
Rosneft for the sale of its share in the troubled Russian joint
venture, TNK-BP.
BP Friday declined to comment on media reports that its board was
considering an offer worth around 28 billion dollars made by the
Kremlin-backed oil firm.
The cash-and-shares deal would give BP between 15 and 20 billion
dollars in cash plus a stake of between 10 and 20 per cent in
Rosneft, reports said.
If approved, it would transform the Russian concern into one of
the world's largest oil companies, with daily crude output of more
than 3 million barrels, while also securing BP's future in Russia.
It was reported from Moscow earlier this week that the four
Russian oligarchs behind the consortium AAR have agreed to sell their
50-per-cent stake in TNK-BP to Rosneft at a later date.
Meanwhile, Russian agency Interfax reported Friday that a manager
of TNK-BP in Moscow had been arrested on suspicion of fraud. The
agency quoted the Russian Interior Ministry, but left open whether
the arrest was in any way connected with a possible deal between
Rosneft and BP.
