Rosneft Poised to Tighten Grip on Russian Oil Industry
Rosneft is poised to secure a tighter grip on Russia’s oil industry by buying BP’s 50 percent stake in TNK-BP, the country’s third largest producing company.
The British oil company’s board will meet on Friday to consider a cash and stock offer worth over $25 billion. It is not tied to asset deals or exploration tie-ups with Rosneft although those may come in the future, sources said.
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