BP considers selling its stake in TNK-BP

3:36 AM, Jun 1, 2012   |    comments
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MOSCOW -- Oil giant BP says it could sell its 50 percent stake in its Russian joint venture TNK-BP.

TNK-BP, Russia's third-largest oil producer, is owned by BP and AAR, a consortium of Russian shareholders.

The company has been mired in a corporate dispute after AAR blocked BP's deal with Russian oil company Rosneft.

BP said in a statement Friday that it has received "unsolicited indications of interest" for its share in TNK-BP and is intent to pursue a potential sale.

BP did not mention the potential buyer.

AAR has previously indicated that it could be interested in raising its stake in TNK-BP.

The Associated Press

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