BP Welcomes Rosneft as New Partner in German Refining Joint Venture
BP today welcomed Rosneft as its new partner in its German refining joint venture, Ruhr Oel GmbH (ROG). This follows the completion of the deal announced last October in which BP’s existing partner, PdVSA of Venezuela, agreed to sell its 50 per cent interest in the joint venture to Rosneft. …
Rosneft accepts BP’s proposal to extend the deadline for the deal
BP has asked Rosneft to extend the deadline for the share swap agreement, pending the final decision of the Arbitration Institute of the Stockholm Chamber of Commerce, and in order to implement the share swap transaction between Rosneft and BP. Without waiving any of its rights, the Russian oil company …
BP and Rosneft Extend Share Swap Deadline
BP announced today that it has agreed with Rosneft to extend the deadline for completing the share swap agreement (previously announced on 14 January) to 16 May 2011. The agreement between the two companies followed the 8 April decision of the arbitral tribunal to allow them to discuss extension of …
BP Rosneft share swap prohibited
BP announced today the arbitral tribunal has ruled that the interim injunction prohibiting closing of the share swap transaction with Rosneft will remain in place until further notice. However BP is now able to discuss the possibility of an extension of the April 14 deadline under which the share swap …
BP Remains Committed to Partner with Russia
BP announced today that an arbitral tribunal has ruled that the interim injunction issued to prevent BP’s proposed transaction with Rosneft, which includes Arctic exploration and a share swap transaction, from proceeding should continue. BP will now apply for a determination whether the share swap may proceed on its own. …
Russian Arctic Thaws with Rosneft-BP Deal
Mark Thomas Russia’s offshore arctic shelf has become one of the most scrutinized frontier oil and gas sectors in the world, thanks to the ground-breaking deal done between Rosneft and BP. But while most western observers have chosen to look at what the agreement means in terms of benefits for …
FMC Technologies Signs Global Frame Agreement with BP
FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a five-year global frame agreement with BP to provide subsea production systems and life-of-field services for their worldwide subsea development projects. “We have a strong relationship with BP and have supported a number of their projects in the world’s …