Support The Moscow Times!

TNK-BP Mulls Brazil Deal

TNK-BP wants the option to operate 21 Brazilian oil and gas blocks before buying a 45 percent stake in the project, deputy chief executive Maxim Barsky said Friday.

TNK-BP plans to partner with HRT Participacoes em Petroleo on the blocks in Brazil's Solimoes Basin. The Moscow-based oil venture may buy the stake from HRT's partner Petra Energia for about $1 billion plus interest, and may make additional payments based on performance, it was reported in July.

HRT chief executive Marcio Mello said Friday that there's "no chance" it will let TNK-BP operate blocks in the Solimoes Basin.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.