Support The Moscow Times!
Contribute today

TNK-BP Signs Brazil Deal

By The Moscow Times

TNK-BP agreed to pay $1 billion for a 45 percent stake in HRT Participacoes em Petroleo's Amazon fields and took an option for an additional 10 percent stake once the deal is approved.

TNK-BP can buy the extra stake 30 months after the deal is authorized by Brazil's regulators, HRT said Monday. The stakes are in 21 exploration blocks in the Amazon's Solimoes Basin.

HRT began exploring Solimoes earlier this year and is building pipelines to transport oil and natural gas to markets closer to Brazil's coast. TNK-BP also signed a joint operating agreement with HRT to develop the exploration areas, it said. The accord gives TNK-BP 789 million barrels of potential oil and natural gas resources.

(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

News Analysis

How Delayed U.S. Aid Expanded the War in Ukraine’s Skies

While Congress held up vital aid for half a year, Russia exploited Ukraine’s dwindling supplies to bombard the country from the air to deadly effect...
6 Min read
Ukraine War

In Photos: Ukraine's Mariupol After 2 Years of Russian Occupation

The Ukrainian port city was all but destroyed in a harrowing Russian siege at the outset of the Kremlin's invasion.
1 Min read
under scrutiny

Moscow ‘Naked Party’ Organizer Fined for ‘Discrediting’ Russian Army

Anastasia Ivleeva was fined for an Instagram post from March 2022 in which she called for Russian-Ukrainian talks to end the conflict.
1 Min read
'we will get our way'

Kremlin Says Ukraine Access to ATACMS Will Not Impact Outcome of Conflict

"We will get our way. But it will cause more problems for Ukraine itself."
1 Min read