Rosneft’s $55B TNK-BP Takeover Tops Exxon with 5% of World’s Crude in Soviet-Era Wells

Bloomberg reported that OAO Rosneft’s $55 billion takeover of TNK-BP will make it bigger than Exxon Mobil, as the Soviet-era wells allow it to pump almost 5% of the world’s oil.

As quoted in the market news:

The new company, created yesterday, will be about 70 percent-owned by the Russian state and will employ 218,000 people, more than Exxon and Royal Dutch Shell Plc (RDSA) combined.

Click here to read the full Bloomberg report.