Rosneft says still looking at options to buy stakes in TNK-BP
Rosneft continues to look at various options for buying stakes in TNK-BP, a Rosneft representative told Interfax.
"The company continues to look at various options and will inform the market as necessary and in the prescribed manner," the representative said.
Alfa Access Renova (AAR) and BP own TNK-BP on an equal footing. Sources say the partners are in talks with Rosneft to sell their stakes to the state-owned oil firm: AAR is said to have reached a preliminary agreement to sell its 50 percent of TNK-BP to Rosneft for $28 billion, and BP to be close to selling its stake for $25 billion cash plus shares in Rosneft. In other words Rosneft might buy 100 percent of TNK-BP, but it is also possible that BP will remain in TNK-BP in partnership with Rosneft.
The Russian Energy Ministry sees no reasons for an oil market monopoly if Rosneft buys TNK-BP, Energy Minister Alexander Novak told reporters.
"I consider there won't be [an oil market monopoly]. This is an entirely normal market structure," Novak said.
"I think there won't be a monopoly situation. We have quite a lot of competition in the market," he said.
Novak said Rosneft had not presented agencies with any configuration for a possible deal for the purchase of a stake in TNK-BP or of the company as a whole.
"TNK-BP might get another shareholder [in the form of] BP [in addition to Rosneft]. Rosneft itself has other shareholders," Novak said