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Russia: Rosneft continues its oil market growth with Venezuelan acquisition

By  |  November 2, 2012

BP is reportedly in talks to sell its Venezuelan Junin-6 project to Rosneft, according to TNK-BP’s CFO, in the company’s efforts to cut and consolidate projects in the South American nation. Rosneft plans to buy the project; Rosneft has recently been given permission by the Russian Federal Antimonopoly Service (FAS) to add another 20 percent stake in the National Oil Consortium, a share that is reportedly going to be sold by Surgutneftegas. Rosnet will need to raise $28 billion for the deal for AAT and an additional $17.1 billion for BP.

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