BP (BP.L) is not expected to attempt a buyout of its oligarch partners in its Russian venture TNK-BP (TNBP.MM) anytime soon, if at all, banking and industry sources said. The Mail on Sunday reported BP was working over the weekend with state-controlled Rosneft (ROSN.MM) to buy out the billionaires who own half of TNK-BP, while Monday's Financial Times said BP would this week seek Russian government approval for such a move, either alone or with Rosneft. Neither newspaper cited a source for the buyout moves. While a buyout would end a legal spat between the two sides, industry sources played down the chances of a buyout, saying the likely cost was a challenge to BP when it was selling assets to pay the $42 billion cost of the Gulf of Mexico oil spill.
Source
