• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Oil and Gas Market
    Oil and Gas News
    Oil and Gas Stocks
    • Oil and Gas Market
    • Oil and Gas News
    • Oil and Gas Stocks
    market news

    Oil Industry Headed for a Shake Up on Back of Rosneft’s Plans for TNK-BP

    Charlotte McLeod
    Oct. 17, 2012 02:57PM PST
    Oil and Gas Investing

    The Wall Street Journal reported that Russia’s Rosneft (LSE:ROSN) is set to buy a 50 percent stake in TNK-BP Ltd. from BP plc (LSE:BP) for about $25 billion. It is also looking to buy out BP’s partners for up to $28 billion, and has signed a preliminary agreement to that effect.

    The Wall Street Journal reported that Russia’s Rosneft (LSE:ROSN) is set to buy a 50 percent stake in TNK-BP Ltd. from BP plc (LSE:BP) for about $25 billion. It is also looking to buy out BP’s partners for up to $28 billion, and has signed a preliminary agreement to that effect.

    As quoted in the market news:

    A deal for all of TNK-BP, Russia’s No. 3 oil company by output, would reshape the oil industry in the world’s largest energy producer, shifting ownership further into Kremlin hands.

    Acquiring all of TNK-BP would cement Rosneft’s position as the largest publicly traded oil producer in the world, giving it output of four million barrels a day—more oil than produced by Iraq.

    Click here to read the full report from The Wall Street Journal.

    lse:bpmarket newsrussiaoil company
    The Conversation (0)

    Go Deeper

    AI Powered
    Shell sign on a tall pole against a clear blue sky.

    Shell Denies Interest in BP Takeover, Freezing Potential Deal for Six Months

    BHP to Sell US Onshore Assets for US$10.5 Billion

    BHP to Sell US Onshore Assets for US$10.5 Billion

    Latest News

    Appendix 4E - 30 June 2025

    Locksley Resources Limited Strengthens Leadership to Accelerate Growth Strategy

    Charbone Hydrogen Announces Q2 2025 Financial Results

    Charbone Hydrogene annonce les resultats financiers T2 2025

    2025 Annual Report & Appendix 4E

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×