TNK-BP may seek asset swap with ONGC for BP Vietnam stake, Interfax says

TNK-BP may offer some of its assets to Oil & Natural Gas Corp. in order to gain the Indian company’s approval to buy BP Plc’s stake in a Vietnamese project, Interfax said.

TNK-BP may offer some of its assets to Oil & Natural Gas Corp. in order to gain the Indian company’s approval to buy BP Plc’s stake in a Vietnamese project, Interfax said, citing German Khan, a shareholder and executive director at the Russian oil producer, which is half owned by BP.

TNK-BP hasn’t decided what assets to offer to ONGC, which has the right of first refusal to buy BP’s stake after Vietnam Oil & Gas Group, or PetroVietnam, declined its right, Interfax said.

Tags: BP assets in Vietnam, BP Vietnam, TNK-BP

Posted by VBN on Dec 28 2010. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry