Oil – 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.
Articles Tagged "tnk-bp"
Oil – A brief overview of oil price developments, supply and demand and significant market movers.
The Commodity Investor takes a look at BP's fraught history and its considerably more rosy future.
Oil – 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.
Oil – After BP-Rosneft deal falls through, Exxon score a major coup with partnership that grants them access to untapped reserves that could top 110 billion barrels of oil equivalent.