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BP and Rosneft Begin Discussions on Acquisition of BP's Share in TNK-BP

1:58 PM MDT | July 24, 2012 | Natasha Alperowicz

BP today confirmed that it would begin negotiations with Rosneft (Moscow) for the potential purchase of BP’s shareholding in TNK-BP. BP also confirmed that, while conducting parallel discussions with Rosneft and any other interested parties, it will negotiate in good faith with Alfa Access-Renova (AAR), its joint venture partner, in accordance with its legal obligations. AAR is owned by a group of Russian billionaires: Mikhail Fridman, Len Blavatnik, Viktor Vekselberg, and German Khan.    Rosneft announced today that it has informed BP of its...

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