BP Plans Rosneft Investment Using TNK-BP Sale Proceeds

Law360, New York (September 21, 2012, 2:50 PM EDT) -- Oil and gas giant BP PLC is considering an investment in state-run Russian heavyweight OAO Rosneft, the British company confirmed Friday, indicating that while BP might be looking to get out of its massive Russian oil venture, TNK-BP, it's not done with Russia.

“BP aims to be an investor in Russia for many decades to come,” the company said in a statement. “Therefore if we are successful in selling our stake in TNK-BP, then we would be interested in investing some of the proceeds in buying...
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