BP Begins Next Stage in TNK-BP Sale Process

BP announced that it is beginning the next stage in the process, required under the TNK-BP shareholder agreement, regarding the potential sale of its shareholding in TNK-BP.

This follows the decision of Alfa Access-Renova to exercise its right to enter a period of negotiation to purchase part/ all of BP’s 50 per cent share in TNK-BP. As a result BP will tomorrow enter into a 90-day period of “good faith” negotiations with Alfa Access-Renova as required by the TNK-BP shareholder agreement.

BP is also able to and will enter into negotiations with other interested parties in parallel for the sale of its share in TNK-BP.

There can be no guarantee that any transaction will take place. A further announcement will be made when and if appropriate.

• QPI and Total Seal a Strategic Partnership in Congo 
• Solo Signs Share Purchase Agreement with Pan Minerals 
• FCX & PXP Announce Preliminary Results of Merger Election 
• Brazil's Petrobras studying offer for Argentine unit 
• Solo Oil to Acquire 15% Shareholding in Pan Minerals 
• Eni Completes the Sale of 11.69% of Snam 
• Solo to Acquire a 15% Shareholding in Pan Minerals 
• RAK Petroleum Acquires Interest in Ivory Coast Block 27 
• KMP Completes Acquisition of Copano Energy 
• Iraq Launches World’s Largest Flare Reduction Project 

• BP Announces Third Ultra-Deep Water Discovery Off Angola 
• BP Licenses Innovene Technology For Sasol Polymers Polypropylene Expansion 
• BP to Begin Negotiations With Rosneft for TNK-BP Purchase 
• BP Wins Tender to Supply Israel with LNG 
• Oil & Gas Companies 
• Production 
• Shale Gas 
• Exploration 
• Coalbed Methane 
• Oil Sands