abce certificate
Friday, 21 November, 2008, 15:40 GMT | more >>

Vekselberg quashes TNK-BP talk



By Upstream staff 

Russian billionaire Viktor Vekselberg said today that he and other shareholders in TNK-BP were not in talks to sell their stakes, according to Russian media reports.

Asked if there were any talks on selling the Russian half of TNK-BP, which is a joint venture with the UK's BP, Vekselberg told Interfax: "No".

The future ownership of TNK-BP, Russia's second biggest oil producer, has been the subject of mounting speculation over the past year.

The shareholder agreement that formed TNK-BP in 2003 said the partners would not sell their stakes before 2007, but many market participants expect a Russian state-backed energy player - Rosneft or Gazprom - to try to buy into the venture.


Tuesday, 14 November, 2006, 11:10 GMT  | last updated: Tuesday, 14 November, 2006, 11:10 GMT

e-mail this article to a colleague


to email:  from:
comments: