BP considers selling its stake in TNK-BP

Oil   Oil
By The Associated Press on June 1, 2012

British oil giant BP said Friday it is considering selling its 50 percent stake in its Russian joint venture TNK-BP, in a deal that could fetch at least $15 billion.

TNK-BP, Russia's third-largest oil producer, is a joint venture between BP and AAR, a consortium of Russian billionaire shareholders. The company has been mired in a corporate dispute after AAR blocked BP's deal with another Russian oil company, Rosneft.

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