Rosneft Establishes Committee to Work with TNK-BP Holding Minority Shareholders
Rosneft follows the corporate policy of openness and plans to establish the Committee to work with minority shareholders of TNK-BP Holding. The Committee will consider suggestions and recommendations received as a result of discussions with minority shareholders and stock market players. The Committee will develop proposals for Rosneft management on …
Flare Tip Right-Sizing: Soot-Free Flaring as APG Production Declines
TNK-Uvat has devised a methodology to achieve soot-free flaring of associated petroleum gas (APG) as its production declines. This has significantly reduced harmful atmospheric pollution and slashed the charges payable for APG flaring. The project won the TNK-BP Chairman’s Award for HSE 2012. The entire amount of APG produced at …
Igor Sechin Begins Examining TNK-BP Assets with Samotlor Field
Rosneft President and Chairman of the Management Board Igor Sechin is on a working visit to Nizhnevartovsk, where he gets acquainted with the facilities of Samotlorneftegaz, the biggest production asset of TNK-BP. Rosneft completed TNK-BP acquisition last week. Rosneft delegation includes First Vice President Eduard Khudaynatov, Vice President for Production …
Rosneft: Chief Financier, Dmitry Avdeyev, Leaves After Completed TNK-BP Deal
Dmitry Avdeyev, who has been managing finances at Russia’s biggest oil producer Rosneft since June 2012, has left the company after it completed the $55 billion acquisition of TNK-BP, local press reported on Friday. Kommersant business daily, citing unidentified sources, tipped Svyatoslav Slavinsky, a senior banking services executive with Citigroup …
BP to Buy Back $8 billion of Shares, Returning its 2003 Investment in TNK-BP to Shareholders
BP announced today that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to …
Rosneft Consolidates 100% of TNK-BP
Rosneft today announces the completion of transactions to acquire TNK-BP. Rosneft has finalised the deals to acquire BP’s 50% share in TNK-BP in exchange for $16.65 billion in cash and 12.84% of Rosneft shares. Separately BP acquires 5.66% of Rosneft shares from OFSC ROSNEFTEGAZ. As a result of these transactions …
Rosneft Finalises Acquisition of AAR’s 50% Interest in TNK-BP
Rosneft has finalized the acquisition of AAR’s 50% share in TNK-BP in exchange for cash consideration of $27.73 billion USD in correspondence with the terms, agreed upon by the parties in October 2012. This amount is calculated basing on the terms of purchase price formation, stipulated by the purchase agreement. …
Rosneft and BP Complete TNK-BP Sale and Purchase Transaction
Key points: Rosneft and BP today completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions: o BP receives net $12.48 billion in cash, including a TNK-BP dividend of $0.71 billion, and 18.5 per cent Rosneft shares; o Rosneft becomes …
Former TNK Tycoons Look to Partner with Ex BP Chiefs
Representatives of the Alfa Group, set to earn billion of dollars from the sale of Anglo-Russian oil venture TNK-BP, have sounded out former BP CEOs John Browne and Tony Hayward about investing jointly in international oil projects. German Khan, one of four Soviet-born businessmen who shared control of TNK-BP with …
TNK BP: Unconventional Sources of Hydrocarbons: Shale Bubble or Shale Revolution?
For the last several years, the topic of unconventional hydrocarbon resources development has become increasingly popular across the globe. It is also a controversial topic, with opinions ranging from euphoric announcements of a “shale revolution” to highly sceptical expert reviews characterizing that phenomenon as a “shale bubble”. If a company …