BP MAY FURTHER INFLUENCE CHINA PIPELINE
The Russian government plans to sell their 11.2 percent stake in the giant Kovytka gas field in Eastern Siberia. The governor of the Irkutsk region, Boris Govorin, said the region will pull out of the project, known as Rusia Petroleum.
BP and TNK-BP control 63 percent of Rusia-Petroleum, while Russian industrial group Interros plans to sell its 25-percent stake in the field to get rid of non-core assets.
The project could allow BP stronger positioning in a proposed Russia to China gas line. However, nearly all international oil majors have shown interest in buying Interros's stake.
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