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.

(Bloomberg)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more