BP’s controversial $16bn share swap and arctic exploration deal with Russia’s Rosneft was thrown into disarray last night, with an independent arbitration panel ruling it could not go ahead. The ruling dealt a potentially fatal blow to BP’s most ambitious attempt to move beyond the crisis of its Gulf of Mexico oil spill last year. The Kremlin-backed deal would have seen Rosneft pick up around 5 per cent of BP, which in turn was going to acquire around 9.5 per cent of the Russian group as part of a $16bn share swap. The agreement…
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on March 24, 2011. Filed under News.
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Posted by
on March 24, 2011. Filed under