Markets

Rosneft repays $10.6bn in loans before time for TNK-BP takeover

Published March 25, 2014 Updated March 25, 2014 07:09am

1 min

By Shoaib Ur Rehman

Add BRecorder as a trusted
source on Google

MOSCOW: Russia's Rosneft, the world's largest listed oil company by output, said on Tuesday it had repaid some $10.6 billion to international banks raised for its takeover of TNK-BP.

Rosneft, headed by Igor Sechin, a close ally of President Vladimir Putin, said it paid back loans ahead of time in December-March. Rosneft paid $55 billion to buy TNK-BP, once Russia's third largest oil producer, partly using loans.

Read Comments