Russia’s Rosneft to take a 5 percent share in BP: TV

LONDON (BestGrowthStock) – Russia’s Rosneft (ROSN.MM: ) is to take a “pretty significant stake” in oil major BP Plc (BP.L: ), Sky television news said on Friday.

“That is probably going to be around 5 percent, I understand, though the details were still be finalized today,” its reporter Mark Kleinman said.

BP invited reporters to a press conference, to be addressed by Chief Executive Bob Dudley and scheduled for 2100 GMT on Friday, at its headquarters in London a few hours before the event.

BP, Europe’s third-largest listed oil company by market capitalization, earlier said Dudley was in Moscow on Friday for a “routine” meeting with Prime Minister Vladimir Putin. BP’s CEO travels to Russia once every quarter for meetings with officials.

(Writing by Avril Ormsby; Editing by Gary Hill)