BP to Seek Sale of Russian Venture TNK-BP

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BP to Seek Sale of Russian Venture TNK-BP

NY Times – BP, the British oil company, plans to sell its 50 percent stake in its Russian joint venture, TNK-BP, after being approached by potential buyers of the holding. The announcement Friday came as a surprise because TNK-BP has been a lucrative investment for BP and the company has repeatedly stated that it is not interested in selling its stake. But continuous disputes with BP’s Russian billionaire partners in the joint venture and threats of legal action had cast a shadow over the investment. Read Article

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