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Rosneft acquires BPs 50% stake in TNK-BP for US$28 billion in cash and shares

Rosneft acquires BPs 50% stake in TNK-BP for US$28 billion in cash and shares

Report summary

BP has announced the signing of an agreement with Rosneft to sell its 50% stake in TNK-BP. Under the terms of the deal BP will receive US$12.3 billion in cash and an additional 18.5% equity stake in Rosneft. This values BP's share of TNK-BP at US$26.8 billion, towards the upper end of market expectations and just below our US$28.8 billion NPV, 12 upstream valuation. Two major uncertainties have weighed heavily on BP over the past few years and constrained strategic development: (i) ...

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The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

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