Russian state-controlled oil giant OAO Rosneft (ROSN.RS) has provided the Russian government with some of the additional information it requires to approve the $55 billion buyout of competitor TNK-BP, Deputy Prime Minister Arkady Dvorkovich was cited as saying by Russian newswires Friday.
Russian state-controlled oil giant OAO Rosneft (ROSN.RS) has provided
the Russian government with some of the additional information it requires to
approve the $55 billion buyout of competitor TNK-BP, Deputy Prime Minister
Arkady Dvorkovich was cited as saying by Russian newswires Friday.
Mr. Dvorkovich, who has said he opposes the state taking a larger role in the
oil industry, confirmed reports that the Economy Ministry had asked Rosneft for
more information on the financial parameters of the deals to acquire TNK-BP
from BP PLC (BP) and its partners.
"The (relevant) ministries are working constructively with Rosneft to receive
additional information on the deals with the aim of confirming their
feasibility and issuing the necessary directives. Rosneft has provided part of
the additional information," Mr. Dvorkovich was quoted as saying by Prime
and Interfax.
Rosneft last month agreed to buy out BP and its partners, the
AAR
consortium of tycoons, for a total of $55 billion in cash and shares. The deals
will increase state control of
Russia
's
crude output to almost 50%.
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