Russia: Rosneft Takes over TNK-BP

Businessn.a. ♦ Published: March 11, 2013; 15:35 ♦ (Vindobona)

The EU Commission has approved of the fusion of TNK-BP and Rosneft. According to the commission, Rosneft will still have business competition.

Russia: Rosneft Takes over TNK-BP / Picture: © Rosneft

Russia’s biggest oil producer, the state-owned company Rosneft, is going to take over 50 % of Russian-British TNK-BP. With this deal, the biggest international oil producer emerges. The business will be transacted by two separate deals at a total of $ 45.1bn (€ 34.4bn). According to head of Rosneft, Igor Setchin, the deal should be clinched by mid-2013. Rosneft will take over a 50…