Rosneft Board Approves BP Deals
A November 20 meeting of the Rosneft Board of Directors reviewed issues relating to the deals with BP. The Board of Directors: Approved Rosneft’s participation in TNK-BP Limited and TNK Industrial Holdings Limited; Approved Rosneft’s large deal to acquire a 50% stake in TNK-BP Limited and TNK Industrial Holdings Limited …
Rosneft signs definitive agreements to acquire a 50% stake in TNK-BP from BP
Rosneft today announces that it has entered into definitive agreements with BP for the purchase of BP’s 50% interest in TNK-BP in exchange for $17.1 billion in cash and 12.84% Rosneft shares currently held in treasury. The completion is subject to regulatory approvals, and is expected to occur in the …
BP Announces Resolution of All Criminal and Securities Claims by U.S. Government Against Company Relating to Deepwater Horizon Accident
– Resolution of all criminal claims with Department of Justice includes $4 billion paid in installments over a period of five years – Resolution of all securities claims with Securities and Exchange Commission includes $525 million paid in installments over a period of three years – Existing $38.1 billion charge …
BP and AAR Settle All Outstanding Disputes
BP and AAR, joint shareholders in TNK-BP, today announced that they have reached a comprehensive agreement to settle all outstanding disputes between them, including the current arbitrations brought by each against the other. The agreement includes an immediate waiver of the new opportunities provision in the TNK-BP shareholder agreement, allowing …
BP Reports Strong Third Quarter Results, Raises Dividend
BP today announced its financial results for the third quarter of 2012, reporting underlying replacement cost profit, adjusted for non-operating items and fair value accounting effects, of $5.2 billion. It also announced an increase in its quarterly dividend to 9c per share – an increase of 12.5 per cent – …
Rosneft agrees to acquire a 50% stake in TNK-BP from BP
Rosneft today announces that it has entered into an agreement in principle with BP to acquire its 50% interest in TNK-BP in exchange for $17.1 billion in cash and 12.84% Rosneft shares currently held in treasury. In connection with the proposed transaction, BP has offered to purchase from Rosneft’s parent, …
Rosneft In Bid for BP’s Stake in TNK-BP
Rosneft is poised to secure a tighter grip on Russia‘s oil industry with a bid for BP’s 50 percent stake in TNK-BP, the country’s third largest producing company. Sources familiar with the actions of British oil company BP, Rosneft, their advisers and financiers said a bid had been submitted to …
BP Attempts to Sooth SOCAR and Azeri Ire
BP Plc Chief Executive Officer Bob Dudley agreed to work closely with the State Oil Co. of Azerbaijan at a Caspian Sea oil field where Azeri President Ilham Aliyev blamed the U.K. producer for declining output, reported Zulfugar Agayev. Dudley met with Rovnaq Abdullayev, the CEO of Socar, as the …
TNK-BP: Bidding to Open this Week – Rosneft likely Suitors
Bidding will open this week for BP’s half of Russian oil company TNK-BP, with Rosneft seen as the likely winner of the British oil major’s stake in the fraught but lucrative joint venture reported Melissa Akin. BP has booked $19 billion (11.8 billion pounds) in dividends from its original investment …
BP Service Stations Now Accepting Payment by Visa payWave in Moscow and Moscow Region
TNK-BP announces that BP-branded service stations in Moscow and Moscow Region have begun accepting payment via the contactless Visa® payWave system. The stations have already successfully introduced contactless payments using the MasterCard PayPass system. It has now become even easier to buy high-quality branded fuel and accessories at BP’s service …