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BP in sales negotiations over stake in TNK-BP?

The company is believed to be considering offloading its stake in the TNK-BP link-up.

07 June 2011

Sales negotiation training could come in useful for BP as it is reportedly in talks to sell a part of its stake TNK-BP to Russian state-owned oil company OAO Rosneft.

According to the Wall Street Journal, executives for BP have been in touch with the other organisation to say it is prepared to move on its 50 per cent share of the business.

Earlier this year, plans for a link-up involving BP and Rosneft were blocked by the latter's AAR holding company.

The news provider observed the move could still be a show of negotiation skill on the part of BP, as it tries to resurrect that particular deal.

"Under the current TNK-BP shareholder agreement, official notification from BP of its intent to sell part of its stake would set off a 75-day period," the information outlet added.

Last month, BP sold off a number if its fields to Perenco for some $610 million (£372 million).

Posted by Edel Quinn

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