17 October 2012

RUSSIA / UK/ OIL : 18 Oct UPDATE: Rosneft Nears $56 Billion TNK-BP Takeover.

              IST LINK CHANGE:

     Rosneft is getting serious about consolidating energy production.
     It has bid $28 billion for BP's 50% ownership of TNK-BP...after agreeing to a $28 billion deal with its tycoon co-owners.
     If concluded...the deal would elevate Rosneft into global oil production leadership...with 4 million bpd...exceeding the current #1 Exxon.
     TNK-BP has been valued at $50-56 billion.