06-24-2012, 03:07 AM
(Reuters) - A Russian state firm has offered to buy BP Plc's (BP.L) half share in its Siberian joint venture, a source said on Friday, in what would amount to a stunning reversal for the British firm and a bold assertion of Kremlin control over the oil sector.
If a state entity acquires the stake, worth around $30 billion, it would signal a dramatic reorganization of Russia's oil industry, the world's largest, weeks after Vladimir Putin returned to the presidency.
Igor Sechin, CEO of state oil major Rosneft (ROSN.MM), denied considering buying out the stake in the TNK-BP (TNBP.MM) joint venture, which accounts for nearly a third of BP's output and has since 2003 been a cornerstone of its global strategy.
http://www.reuters.com/article/2012/06/0...HY20120601
If a state entity acquires the stake, worth around $30 billion, it would signal a dramatic reorganization of Russia's oil industry, the world's largest, weeks after Vladimir Putin returned to the presidency.
Igor Sechin, CEO of state oil major Rosneft (ROSN.MM), denied considering buying out the stake in the TNK-BP (TNBP.MM) joint venture, which accounts for nearly a third of BP's output and has since 2003 been a cornerstone of its global strategy.
http://www.reuters.com/article/2012/06/0...HY20120601