Rosneft Taps BP to Narrow $292 Billion Exxon Value Gap: Energy

Buying TNK-BP will give OAO Rosneft production and reserves that surpasses Exxon Mobil Corp., the world’s largest publicly traded oil company.

The similarities between the biggest Russian and U.S. oil producers end there. An enlarged Rosneft will employ more than 210,000 people, almost three times as many as Exxon. Rosneft’s oil and natural gas reserves will be 7 percent larger, while the traded value of Russia’s state-run oil company will be $292 billion less than Exxon.