BP-Rosneft Deal: Implications & Intentions Recent weeks have seen much news and analysis by Russian, UK and other commentators on the TNK-BP takeover, which will make the Russian listed company Rosneft one of the world's biggest oil producers. Though listed, Rosneft is state controlled - over 70% of its equity is controlled by the government of the Russian Federation. The new Rosneft will register (it is estimated) at 23 billion barrels of oil reserves, is as much as those of ExxonMobil or Brazilian Petrobras; and produce at just over 4 million barrels per day; significantly more than Exxon or Petrobras. There is lot's of indications on the possible appointment of a representative from Rosneft at the BP's board. The appointment of a Russian director to BP's 15-strong board would be a first in the company's 104-year history. Also, it is not excluded that this representative will be Igor Sechin - Putin's close associate and energy "Tsar". From fighting capitalism in the Angolan jungle to the board of BP represents a remarkable career trajectory for Igor Sechin, Putins close associate and "energy-Tsar". Rosneft is taking BP's 50% stake in TNK BP and also BP is taking 12.84% of equity in Rosneft. BP, will buy 5.66% of Rosneft equity shares for the price of USD 4.88 billion (USD 8 for each share) and make its total share of Rosneft 19.75%. It will give BP right to assign two members to the Rosneft board. Presumably one of them will be Robert Dudley -