|
BP-Rosneft deal: Russia takes 5pc stake in BP, raises trust fears
BPs chief executive has dismissed concerns that Russia is an unreliable business partner, after making a Kremlin-controlled oil giant its second largest shareholder.Bob Dudley said there was mutual confidence and trust between BP and Rosneft, as they agreed to buy £5bn of each others shares and explore the Arctic together. The agreement, backed by Prime Minister David Cameron and Russian Prime Minister Vladimir Putin, has already drawn anger from American politicians. It comes at a sensitive time for BP as the energy major tries to repair its relationship with the US following the Gulf of Mexico oil spill last year. US congressman Edward Markey, a prominent Democrat who led investigations into the giant leak, questioned the deal on grounds of national and economic security. On Friday night, he claimed that BP once stood for British Petroleum. With this deal, it now stands for Bolshoi Petroleum. Posted by: tipper 2011-01-15 |
| http://www.rantburg.com/poparticle.php?ID=313944 |