TNK-BP (TNBP.RS) is unlikely to join BP's (BP) joint project with Rosneft (ROSN.RS) despite a stalemate in negotiations, says Renaissance Capital. "We maintain our view that the deal between BP and Rosneft should be completed under terms that are close to the original ones," says analyst Ildar Davletshin. "We very much doubt that TNK-BP will become a third party to the agreement or that it will replace BP in the alliance, as this would be at odds with the original goal of the agreement and also because TNK-BP can add very little to the JV."
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