Rosneft

Kiran Stacey

We all knew that the collapse of BP’s deal with Rosneft to drill in the Arctic was more damaging for BP than it was for their prospective Russian partners. Read more

Russian president Dmitry Medvedev at a news conference May 18They should have done their homework. That’s the view of Russian president Dmitry Medvedev on the collapse of the BP-Rosneft deal. And it’s hard to fault his conclusion, delivered at a mega press conference on Wednesday that was broadcast live. Read more

BP shareholders breathed a sigh of relief on Tuesday on the collapse of the Rosneft deal talks, with the stock climbing over 1 per cent. Read more

BP‘s bid for a strategic alliance with Rosneft, the Russian state oil champion, collapsed on Tuesday after the UK oil group failed to reach agreement to salvage its $16bn share swap before a midnight deadline expired. Read more

BP was fighting on Monday to save its planned $16bn deal with Russian state-run oil group Rosneft before the deadline on the deals lapses at midnight. Read more

Serious interest in buying Poland’s Lotos Group has come only from Russian companies, making the sale of the government-owned refiner politically problematic before this autumn’s parliamentary election. Read more

Bob Dudley, BP chief executive, and Vladmir Putin, Russian prime minister, when the BP-Rosneft deal was announced in January 2011BP is bending over backwards to save its controversial deal with Rosneft, the Russian state-controlled oil group, and try to square its interests with those of the Russian authorities and of the oligarch partners in its current Russian joint venture, TNK-BP. Read more

Kiran Stacey

Newsflash from Reuters:
15:15 06May11 RTRS-BP PLC – ARBITRAL PANEL PERMITS CONDITIONAL COMPLETION OF BP-ROSNEFT SHARE SWAP
15:16 06May11 RTRS-BP PLC – ASSIGNMENT OF ARCTIC OPPORTUNITY TO TNK-BP
15:16 06May11 RTRS-BP PLC – THE ORDER ALSO PERMITS THE PROPOSED SHARE SWAP BETWEEN BP AND ROSNEFT TO PROCEED Read more

Kiran Stacey

As we near the end of BP’s AGM, one thing we can report is that Bob Dudley is still standing. Which is more than can be said of several protestors against the development of Canadian oil sands who were carted out, in some cases lifted off their feet, after shouting across Mr Dudley as he tried to defend such developments. Read more

Rosneft’s decision on Wednesday to give BP another month to try to complete their controversial cooperation plan gives everybody involved a breathing space. Read more