HomeMediaLatest NewsSUCCESS OF THE YEAR. Rosneft's wide step

SUCCESS OF THE YEAR. Rosneft's wide step

18 December 2012

«The deal of the century» — this is how Russian and world analysts commented on the purchase of 100% of TNK-BP shares by Rosneft. This purchase status was determined primarily by the price — $ 60 billion. However, for a number of other indicators, the agreement became a part of the world history.

The deal will be completed by mid-2013. BP will receive $ 17 billion and almost 13% of Rosneft shares. TNK will pay off Russian shareholders only in cash.

The merger of TNK-BP and Rosneft will put the Russian company on a par with the largest public giants of the oil sector. The corporation will become the world leader in terms of production of liquid hydrocarbons. And it will take third place in the list of companies in terms of net profit. Only Saudi Aramco and National Iranian Oil Company will remain ahead.

The emergence of a large minority shareholder in Rosneft promotes a more active participation of the Russian company in Western projects.

«By entering Rosneft, BP gets a lucky ticket. Because it is the Russian company that will operate in Eastern Siberia and develop the shelf. This means that BP, as one of the main shareholders, has very wide opportunities for increasing reserves in the future and in general by its share in the global market» , — said Sergey Agibalov, expert of the Institute for Energy and Finance Foundation.

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