BP oligarchs talk tough over Rosneft dispute

first_img Tags: NULL Share alison.lock whatsapp Friday 15 April 2011 6:08 am BP’s partners in its Russian venture TNK-BP rejected the UK oil major’s attempts to settle a dispute caused by its $18bn (£11bn) tie-up with Rosneft, casting further doubt on the deal.“Now is the time for sensible proposals from BP to resolve the problems that have been created,” Stan Polovets, chief executive of AAR, the consortium that represents the four billionaires who own half of TNK-BP said in a statement.BP believes the Russians are angling to be bought out of TNK-BP at a high price – possibly more than $35bn.BP Chief Executive Bob Dudley said on Thursday BP had offered to do this – sources close to the matter said the oil giant offered $27bn in conjunction with Rosneft – but he added BP would not overpay.Polovets said AAR was not planning to sell out and simply wanted BP to conduct the planned $16bn share swap and $1.2-2bn Arctic Sea exploration deal with Rosneft, through TNK-BP instead, in line with the TNK-BP shareholder agreement.AAR convinced an arbitration panel to block both elements of the Rosneft deal pending a settlement between the two sides.Analysts and investors are growing increasingly pessimistic the deal, which was supposed to signal BP’s recovery after the Gulf of Mexico oil spill, will be sealed.“We believe it is unlikely that the final decision from the panel will wave the deal through,” analysts at the Royal Bank of Scotland said in a research note. More From Our Partners Colin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Show Comments ▼ BP oligarchs talk tough over Rosneft dispute whatsapplast_img