Energy Business Recap: BP’s TNK-BP Expects AAR Offer, Consortium’s Alaska Pipeline
BP’s (NYSE:BP) 50 percent interest in TNK-BP should receive a “competitive” offer from AAR by Oct. 17th, one of the group’s members says. Such an offer would elevate the prospect of a bidding war between AAR and Rosneft Oil Co. (RNFTF.PK), which also has shown interest in BP’s investment in TNK-BP, and is Russia’s third-largest oil firm.
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A consortium of energy firms that includes Exxon Mobil Corporation (NYSE:XOM), ConocoPhillips (NYSE:COP), BP and TransCanada Corporation (NYSE:TRP) agree on a plan to unite what were once two rival projects meant for the continental United States, into one project targeted at overseas markets. The group reports that it is moving forward with the $45 bilion project to construct an 800-mile natural gas pipeline originating in Alaska’s North Slope that will transport liquefied natural gas to Asia.