Prime reports that the board of directors of Russian oil major Rosneft has approved taking 152 billion ruble and U.S. $4.8 billion loans from TNK-BP which the company has recently acquired, Rosneft said in a statement on Tuesday.
A crude distillation unit at the Ryazan refinery owned by Russia's TNK-BP was affected by a fire late on March 23, the regional Emergencies Ministry said on its web site, while the plant said it had since restored oil product supplies, Reuters reports.
Rosneft announced March 21 the completion of transactions to acquire TNK-BP. Rosneft has finalised the deals to acquire BP’s 50% share in TNK-BP in exchange for $16.65 billion in cash and 12.84% of Rosneft shares.
BP announced March 22 that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion.
Reuters reports that Russian state oil company Rosneft closed its deal to buy TNK-BP from UK-based BP and four tycoons on March 21, releasing $40 billion cash to the sellers and becoming a bigger oil producer than Exxon Mobil.
Rosneft and BP completed on March 21 a number of transactions, in line with the terms announced in October 2012. As a result of the transactions:
Bloomberg reports that fracking isn’t just for shale. In Russia, producers are importing techniques from the U.S. to squeeze billions of dollars of extra oil from Soviet-era fields.
Dow Jones reports that representatives of the Alfa Group, set to earn billion of dollars from the sale of Anglo-Russian oil venture TNK-BP, have sounded out former BP CEOs John Browne and Tony Hayward about investing jointly in international oil projects, Reuters reporte
ТNК-ВР reports that in 2013 it will invest over 1.5 bn rubles in the OJSC Orenburgneft pipeline integrity program. This is 18.5% more than in 2012.
Dow Jones reports that a $55 billion transaction in which Russian state-controlled OAO Rosneft will acquire TNK-BP from BP PLC (BP.LN) and the AAR consortium of Soviet-born tycoons is expected to close by the end of the month, three people familiar with the matter said t