TNK-BP Billionaires Bidding to Buy Half of BP's stake

The latest developing story on the oil and gas front is that the billionaire partners holding a 50 percent share in TNK-BP  (MICEX-RTS: TNBP) are going to bid for BP plc (NYSE:BP)'s half  of the share. The entire stake amounts to a total of $32 billion, by last year's estimates, and the strategy would be to bid rather than just simple buying.

TNK-BP  (MICEX-RTS: TNBP) is Russia's 3rd largest crude oil producer and is ranked among the top ten of the world's major oil producers. The ownership of the company is divided between BP and Russian business...