BP agrees $27bn deal with Rosneft Russian oil giantOctober 21, 2012 - 16:47 AMT PanARMENIAN.Net - BP has agreed a deal worth more than 27 billion US dollars in a move that will see it take a stake in the world's largest publicly listed oil producer, Belfast Telegraph reported. The oil giant's board is understood to have unanimously approved a plan to sell its 50% stake in its troubled TNK-BP joint venture to Rosneft, in return for cash and shares in the State-backed Russian energy firm. The final details of the deal are still being thrashed out ahead of an announcement possibly as soon as Monday, October 22 but it is thought BP will receive up to 13 billion US dollars and take a stake of between 15% to 20% in Rosneft. Rosneft would become the world's biggest publicly traded oil company after the deal, with daily crude output of more than three million barrels. It would also end years of wrangling over BP's Russian joint venture, which is owned with partners Alfa-Access-Renova (AAR). Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. Armenia, India hold first defense consultations The meeting was attended by Indian Ambassador Nilakshi Saha Sinha and Defense Attaché Brigadier General Naveen Nijhawan. Civil disobedience campaigns continue in Yerevan People demanding Prime Minister Nikol Pashinyan’s resignation again blocked streets in Yerevan on May 15. |