Source Pravda.Ru

BP President: Merger with TNK will provide stability on world energy market

The merger of BP and Tiumen Oil Company (TNK) will provide more stability on the world energy market. As a Rosbalt correspondent reports, this was announced by British Petroleum President Sir John Brown. He said the merger of the two companies marks the largest single foreign investment in the Russian economy in recent times, about USD 7.7 billion. In Mr Brown's opinion, the merger will also reinforce Russia's position on the world arena as TNK-BP became the tenth largest oil company in the world after its merger. He added that foreign investors have started showing 'greater trust in Russia than before.' In his opinion, the Russian oil and gas sector is considered to be the most promising by people abroad.

Mr Brown stressed that TNK-BP anticipates further growth, eventually becoming the world leader in the oil and gas industry. However, he added that the company would aim for long-term results as opposed to short-term.

© &to=http://www.rosbaltnews.com/' target=_blank>RosBalt

&to=http://www.bp.com' target=_blank>BP

Comments
Russian opposition activists desperately urge the West to topple President Putin
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
The Netherlands and Australia officially accuse Russia of downing MH17 over Donbass
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
The Royal Wedding and the Silly Season
Skripals fall under heavy British pressure
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
World leaders unite with Russia at St. Petersburg International Economic Forum
Skripals fall under heavy British pressure
Russian spy Sergei Skripal recovers from chemical poisoning completely
The Netherlands and Australia officially accuse Russia of downing MH17 over Donbass
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Beautiful and terrifying: Russia shows video of Bulava ICBM underwater salvo launch
London will beg Moscow for forgiveness