subject: New Hope For Bp In Russia Due To Meeting Of Dudley & Putin [print this page] It is not clear that the troubled merger of BP with TNK is about to end hoped after the meeting between Dudley and Putin and also the British firm will get another chance to explore the Arctic in Russia. BP is under talks for selling its 50 per cent stake in TNK-BP to Rosneft that is a state-controlled body, whose President Igor Sechin had also attended the meeting which held day before yesterday, at the Russian resort of Sochi along with the chairman of BP Carl-Henric Svanberg. The Kremlin was of the view that in the meeting there were discussions about the continuation as well as the expansion of the presence of BP on the market of Russia, as well as the prospects for the assistance with the firms of Russia.
The statement during the time when BP is also looking in order to sell by far its biggest Russian asset has also ignited the speculation that other opportunities can be on the table for BP that is inclusive of another shot at exploration in the Russias Arctic. One of the spokesmen of BP declined to give his comment on the possibilities for the company in order to expand its presence Russia, but he added that it was a positive meeting in a sum total. It was to inform the President about the advancement of the sale as well as to reiterate their pledge to Russia.
BP and also Rosneft have attempted about an Arctic exploration tie-up in the last year only to be thwarted by oligarch partners of BP in TNK-BP, the AAR consortium that had accused the company of Britain of breaching the joint ventures agreement of the holders of the share. The Arctic also licences that BP had sought have since gone to rival ExxonMobil of the United States of America, but Russia is also looking for overseas partners in order to help out fund exploration in other areas of Arctic. Get quick funds through
