Rosneft CEO: Integration of TNK-BP mostly complete

6/20/2013

Rosneft CEO: Integration of TNK-BP mostly complete

BY OLGA RAZUMOVSKAYA

MOSCOW -- The work to integrate the assets of TNK-BP into Rosneft is mostly complete, Russian news agencies reported the company's Chief Executive Igor Sechin was saying. Mr. Sechin estimated that cost savings from the merger would amount to $12 billion.

Rosneft acquired a 95% stake in TNK-BP, Russia's third largest oil company, in March from BP and its partners, a group of Soviet born tycoons.

Dow Jones Newswires

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