BP Will Pursue Sale of Shares in Russian Oil Venture TNK-BP

BP Will Pursue Sale of Shares in Russian Oil Venture TNK-BP

OAO Rosneft via Bloomberg

AAR, which represents a group of billionaires, said earlier this week that the current shareholding structure wasn’t sustainable and said it would consider taking control of TNK-BP. The Russian venture provides a quarter of BP’s production and contributed $3.7 billion in cash flow last year.