BP shares up after Rosneft exploration deal

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald John Dunne Monday 17 January 2011 3:57 am Share Show Comments ▼center_img whatsapp Shares in BP rose two per cent following the share swap and arctic exploration deal that the London-based oil major signed with Russia’s largest oil producer Rosneft late on Friday.Analysts said the deal with state-controlled Rosneft opened up massive reserves in the arctic, a region they said was believed to contain one fifth of the world’s undiscovered oil.It also showed that BP’s talent for cutting innovative deals survives after last year’s Gulf of Mexico oil spill raised questions about the company’s tolerance of risk.“This is a unique opportunity for BP to gain access to a prospective new frontier area, where direct access as a non-Russian company would not have been possible,” analysts at Goldman Sachs said in a research note.BP agreed on Friday to form a joint venture with Rosneft to develop three massive offshore exploration blocks Rosneft owns in northern Russia.As part of the deal, which comes four months after BP plugged a blown-out well in the Gulf of Mexico that caused the United States’ worst ever oil spill, BP will swap a 5 percent stake in itself for a 9.5 per cent stake in Rosneft. BP shares up after Rosneft exploration deal More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULLlast_img

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