British energy giant BP plc (BP,BP.L) has proposed the payment of a $1 billion dividend by TNK-BP. The proposal was made prior to the first Board discussion of 2012. This would be the first TNK-BP dividend attributable to 2012 income, TNK-BP said.
TNK-BP, the third largest oil company in Russia, is a 50:50 joint venture formed in 2003 by merging the Russian oil and gas assets of BP and the oil and gas assets of Alfa-Access-Renova or AAR, a consortium consisting of a group of Russian billionaires.
TNK-BP said that with only ten members, the Board is able to make a decision on so-called additional, or interim, dividends, which require the unanimous approval of all members. AAR directors agreed to study BP's proposal and make a decision during the course of the coming week.
Last year BP paid out $4.1 billion in dividends. Of this amount, dividends from TNK-BP accounted for $3.7 billion, or more than 90% of BP's total payout to shareholders, TNK-BP noted.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.