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Russian govt downplays Rosneft expansion concerns

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Russia's energy minister says Rosneft's possible purchase of BP's stake in a joint venture doesn't pose a threat to competition in the country's oil market.

 

Moscow-based TNK-BP is jointly owned by BP and AAR, a group of Russian billionaire shareholders. The two partners have been locked in a boardroom dispute for much of the group's existence. BP said in June it intends to sell its 50 stake and state-owned Rosneft is considered the likeliest buyer. (AP) 

 

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