• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 3 mins Would bashing China solve all the problems of the United States
  • 1 hour Model 3 cheaper to buy than BMW 3 series.
  • 58 mins Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 55 mins Pompeo's Hong Kong
  • 1 hour Thugs in Trumpistan
  • 2 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 23 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 2 hours China’s Oil Thirst Draws an Armada of Tankers
  • 12 hours Income report showing potential future spending and economic growth
  • 5 hours Coronavirus hype biggest political hoax in history
  • 13 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 1 day China to Impose Dictatorship on Hong Kong
  • 14 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
Jen Alic

Jen Alic

 

More Info

Premium Content

TNK-BP Billionaires Seek New Oil & Gas Prowess

Check out this new player on the global oil and gas scene: The former owners of TNK-BP and the Alfa Group, are looking for somewhere to put the $14 billion they made on the sale of TNK-BP Russian venture last year.

They’re shopping around right now in full force, and they’ve got their eyes on the oil industry in a big—global—way. Behind this are Mikhail Fridman and German Khan of the Alfa Group.

In an interview with Bloomberg, Stan Polovets--CEO of the Alfa-Access-Renova Consortium that own TNK-BP along with the BP Plc—the new team is in the process of creating a new global oil and gas investment company, which will also dabble (heavily) in telecommunications. Alfa owns VimpelCom Ltd (VIP), which has merged with Italy’s Wind Telecom SpA.

Related article: The Darker Side of Renewable Energy

Right now, they’re looking for investment opportunities, but not interested in any more shareholders. 

Last year, TNK-BP sold out to Russian state-run OAO Rosneft for $28 billion. The Alfa-Access-Renova Consortium got $14 billion, while BP got $12.3 billion and an 18.5% stake in Rosneft. The deal should be finalized later this month or early next.

The Alfa Group is Russia’s largest privately owned investment firm right now, and the new oil-gas-telecoms enterprise could be launched as early as May. It doesn’t have a name yet, but officers are being set up in Moscow and London, and investments will span Russia, the Commonwealth of Independent States (CIS), North America, South America, Africa and Asia.

By. Jen Alic of Oilprice.com


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News