Russia’s top oil company Rosneft has announced a $55 billion deal to buy BP’s share of TNK-BP, who will subsequently be made a one-fifth Rosneft shareholder in an agreement that puts two BP seats on Rosneft’s board. The deal would pull Rosneft ahead of Exxon Mobil in gas- and oil-flow, and allows the company to further explore Russia’s oil reserves. Under the agreement, Rosneft will buy BP’s half of TNK-BP for $12.3 billion and 18.5 percent of the Russian gas giant.
Full Content: Reuters
Related Content: EU Wants to Settle E.ON, RWE Gas Cartel Probes, Spiegel Reports
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI