BP’s talks on buying out its Russian billionaire partners in TNK-BP broke down on Wednesday morning on the eve of a deadline to complete a $16bn share swap with Rosneft.
People close to the discussions said BP and Rosneft had ended talks with Alfa-Access-Renova because the Russian billionaire partners made “unrealistic” demands for a buyout of their 50 per cent stake in TNK-BP, BP’s existing Russian oil venture, which would have been detrimental to the interests of BP shareholders.
Amid large aftershocks and fears of nuclear contamination rocking eastern Japan on a daily basis, it was the last thing anyone in the country needed to hear on Tuesday: that the crisis at the crippled Fukushima nuclear power plant 240km northeast of Tokyo had been upgraded suddenly by two notches from five to seven – the highest level on the International Atomic Energy Agency scale – on par with the 1986 Chernobyl nuclear meltdown disaster.
As nuclear crisis warnings go, it was one of the most baffling – and bafflingly timed – alerts ever issued by a government.
Energy headlines: BP in race to salvage Rosneft deal
- BP in race to salvage deal with Rosneft – FT
- BP to fight Russian claim over Rosneft – The Telegraph
- BP-Rosneft – What price an AAR buy out? – FT Lex
- Americans threaten to pull plug in BP vote – The Times
- Goldman signals end of oil price rises – The Guardian
- Surging oil prices bite demand – WSJ
- Saudi oil response to Libya ‘limited’ – FT
- Asia’s America oil venture could be costly – FT
- Bromwich wants to expand regulator’s oversight – Argus
- Is WTI a ‘broken benchmark’? – FT Lex
- Shell and Gazprom talk on Japan gas – The Telegraph
- China’s nuclear freeze to last until 2012 – FT
- Fukushima fails to slow Indonesia nuclear plans – The Guardian
- Fukushima’s rating is bad, but not worse – FT
- Keeping score on nuclear accidents – NY Times Green blog
- Safety formula had more reactors doing less – WSJ
- Biofuels transport targets ‘unethical’ – The Guardian
- Medvedev in China to trade energy for investment – Bloomberg
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