TNK-BP says BP has no plans to ditch its stake in JV

MOSCOW (BestGrowthStock) – BP, which is raising billions of dollars to cover damages from a disastrous oil spill, has no plans to sell its 50 percent stake in Russian venture, TNK-BP, TNK-BP’s deputy head said.

“As far as I know, there are no talks (about the sale), and they are not going to sell it,” Maxim Barsky, who will take over as Chief Executive of TNK-BP on January 1, told Reuters on Monday.

Earlier on Monday, The Times speculated that BP is mulling the sale of some of its assets in Russia as it scrambles to raise cash for a $20 billion war chest to help to pay for the Gulf of Mexico oil disaster.

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(Reporting by Katya Golubkova, writing by Vladimir Soldatkin; editing by Maria Kiselyova)

TNK-BP says BP has no plans to ditch its stake in JV