Rosneft To Buy 50% Stake In TNK-BP From BP

BP agrees to sell its TNK-BP stake to Russian's Rosneft in a multi-billion pound deal.

The state-owned oil giant will pay $17.1bn and shares (£10.6bn) for the 50% stake.

The agreement will also see BP take a 19.75% stake in Roseneft.

It comes after a weekend of talks, and will become one of the most significant alliances ever struck in the energy industry.

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