MOSCOW – British oil giant BP said Friday it is considering selling its 50 percent stake in its Russian joint venture TNK-BP, in a deal that could fetch at least $15 billion.
TNK-BP, Russia’s third-largest oil producer, is a joint venture between BP and AAR, a consortium of Russian billionaire shareholders. The company has been mired in a corporate dispute after AAR blocked BP’s deal with another Russian oil company, Rosneft.
BP said in a statement Friday that it has received “unsolicited indications of interest” for its share in TNK-BP and is looking to pursue a potential sale which is “consistent with BP’s commitment to maximizing shareholder value.”
