RIA Novosti reported that shares in Russian British oil major TNK-BP jumped 6% after Mr Igor Sechin CEO of Rosneft said his company plans to keep the brand following its acquisition by Rosneft.

Mr Sechin said earlier that his company would keep and develop the TNK BP brand which owns a chain of filling stations in Russia and Ukraine.

Rosneft agreed in October to buy TNK-BP, purchasing half from British partner BP and half from the Russian AAR consortium of 4 billionaires in a deal worth over USD 50 billion.

Mr German Khan MD of TNK BP said last week that the TNK BP brand would be retained after the takeover as it has a good niche position on the market.