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BP Joint Venture To Sell Russian Unit To Chinese


http://gdb.rferl.org/060E9C02-8ED5-48C5-8B04-D8069C692417_w203.jpg --> http://gdb.rferl.org/060E9C02-8ED5-48C5-8B04-D8069C692417_mw800_mh600.jpg Drilling for oil in Siberia (file photo) (ITAR-TASS) June 20, 2006 -- The British-Russian oil group TNK-BP has agreed to sell a major Russian subsidiary, Udmurtneft, to the state-owned Chinese oil company China Petroleum and Chemical Corporation. TNK-BP did not disclose the value of the deal.


TNK-BP is Russia's largest oil producer after LUKoil and Rosneft.


Ownership is split evenly between British Petroleum and a group of Russian investors.


(AP, AFP)

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