Gazprom makes bid for BP stake in Russia TNK-BP
6/25/2012 12:00:00 AM
An arm of Russian state-controlled Gazprom has lodged a bid for BP's $25 billion stake in its crude oil venture in the country, The Sunday Times reports.
The newspaper said Gazprom Neft has made an offer for TNK-BP, citing three sources involved in the process. It did not identify the sources by name.
The move will increase pressure on AAR, the group controlled by BP's Russian billionaire partners that owns the other half of TNK-BP, said the newspaper.
BP could be not reached for comment.
TNK-BP is vertically integrated with an upstream and downstream portfolio in Russia and Ukraine and international interests in Brazil, Venezuela and Vietnam. Formed in 2003, it is owned equally by BP and Alfa Access Renova
Dow Jones Newswires
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