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BP has proposed buying Rosneft stake: Russia's Sechin
SOCHI, Russia |
SOCHI, Russia (Reuters) - BP (BP.L) has proposed buying a stake in Rosneft (ROSN.MM), after the British major offered to sell its shares in Anglo-Russian oil producer TNK-BP (TNBP.MM), Rosneft CEO Igor Sechin said on Friday.
Rosneft has been in negotiations to buy a stake in the TNK-BP joint venture which BP formed nearly a decade ago with a group of Russian tycoons called AAR to tap into the country's vast energy reserves. In July, BP entered a 90-day period to talk to potential buyers including AAR and Rosneft.
A deal structure is not yet fully developed, said Sechin, a close ally of President Vladimir Putin, who was speaking at a conference in Sochi, Russia.
Sechin said there was no offer from AAR to sell its stake in TNK-BP but he would be willing to discuss a buyout of the AAR stake if an offer was made.
BP told Russian President Vladimir Putin that any proceeds of a sale in TNK-BP would be reinvested in Russian projects, including Rosneft itself, Sechin said. He added Rosneft has no plans itself to buy shares in BP.
(Reporting By Melissa Akin, Denis Pinchuk and Katya Golubkova, writing by Megan Davies)
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