World press review on Rosneft TNK-BP takeover (March 21, 2013)

Rosneft has taken over TNK-BP in a $55bn (£36bn) deal that will make

the Russian state-owned oil company by far the world's largest listed

oil producer. "Biggest takeover in Russian history will allow

state-owned company to increase its daily oil production to 4m

barrels," the Guardian writes.

Bob Dudley, BP's chief executive, said it was a "historic day for BP

in Russia". "BP has invested in Russia for more than 20 years and for

a decade we have been Russia's largest foreign investor through our

involvement with TNK-BP," he said. "We aim to continue that success

with today's transaction, which increases our stake in Rosneft and

gives us a wonderful opportunity to forge a new partnership with a

great Russian oil company," the Guardian quotes him.

"The deal brings an end to BP's troublesome relationship with the

billionaires, which forced Bob Dudley, BP's chief executive, to resign

as head of the venture and flee Russia during a bitter row in 2008," the article

concludes.