Dvorkovich Sees BP Approaching Rosneft on TNK-BP, Vedomosti Says

Russian Deputy Prime Minister Arkady Dvorkovich said BP Plc (BP/) may have approached state-run OAO Rosneft about buying out the British company’s half of the TNK- BP venture, Vedomosti reported today.

Rosneft may have the money and resources for the deal, Dvorkovich said in an interview with the newspaper. The government hasn’t held formal discussions with management yet, and the oil producer hasn’t provided any estimates on the transaction, which may be worth $30 billion, Vedomosti reported, citing the deputy prime minister.

Dvorkovich said it’s not advisable for state-run companies to expand their role in the economy, and government approval is needed for any deal to go ahead, according to the interview.

Vladimir Buyanov, a spokesman for BP in Moscow, declined to comment on Dvorkovich’s remarks. He referred to BP’s June 1 statement about pursuing “unsolicited approaches” about its TNK-BP stake and Rosneft’s July 24 statement that it had begun talks. Rustam Kazharov, a spokesman for Rosneft, didn’t respond when Bloomberg called his mobile phone.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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