Putin open to idea of TNK-BP joining Rosneft

Russia's state oil giant Rosneft vowed Friday to complete its strategic alliance with BP despite repeated efforts by the British firm's Russian venture to either block or join the deal.The statement from the country's largest oil company came after TNK-BP announced plans to try to break up its $16 billion share-swap and joint exploration agreement with BP and strike its own deal with the Russian firm.Rosneft stressed that it remained committed to the BP deal and ridiculed the British-Russian venture's bid to become its parner.

Rosneft shares opened sharply lower on Friday after an arbitration tribunal blocked British energy giant BP's Arctic oil tie-up with Russia's largest oil company.The state-held firm's shares were down about 1.5 percent in early trading on Moscow's MICEX exchange while those of BP's Russian joint venture TNK-BP opened the day higher by 0.9 percent.The broader market was down as traders digested the Stockholm Arbitration Tribunal's Thursday decision to block the British firm's strategic alliance with Rosneft.

The Russian-British joint venture TNK-BP said Friday that it was interested in joining the partnership that BP struck with Russia's largest oil firm Rosneft last month.TNK-BP, which is jointly owned by the British oil giant and its Russian shareholders, has sought an injunction in London to halt the Arctic development venture that BP signed with Rosneft in January.

The Russian shareholders of Russian-British oil joint venture TNK-BP said Monday they would block BP's billion-dollar dividend for the fourth quarter in protest at its landmark deal with Rosneft.TNK-BP is jointly owned 50 percent by the British oil giant and 50 percent by its Russian shareholders -- a consortium of three Russian businessmen including billionaire banker Mikhail Fridman.BP and Rosneft earlier this month agreed to form a joint venture for Arctic oil exploration and take a cross-shareholding.

The deal for TNK-BP, a joint venture between BP and a group of Russian oil powerhouses, will boost the presence of Rosneft, the country's biggest oil producer.MOSCOW — Russian state-owned oil giant Rosneft strengthened its hold on the country's lucrative oil industry when it sealed a deal Monday to buy TNK-BP, the 50-50 joint venture between BP, the British energy company, and a group of Russian oil oligarchs.

Russian shareholders of Russian-British joint venture TNK-BP have filed a complaint with a London court seeking to block a planned milestone deal between BP and Rosneft, a spokesman said Thursday."I can confirm that the suit has been filed," said a spokesman for the shareholders, known collectively as Alfa Access Renova (AAR).A source with knowledge of the issue said the court would examine the case on Tuesday.