Deals
Rosneft Clinches Oil Deal, $16.8 Billion Loans for TNK-BP
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OAO Rosneft agreed on a prepaid oil supply deal with traders Glencore International Plc and Vitol Group and raised loans from global banks as the Russian crude producer seeks funds for its $55 billion acquisition of TNK-BP.
Rosneft signed two loan agreements for $16.8 billion with international banks to buy BP Plc’s half of TNK-BP, the state-run company said in a statement. The five-year supply deal may be worth $50 billion with oil prices at $100 a barrel, according to Alexei Kokin, a senior energy analyst at UralSib Capital.