Rosneft to defend the BP venture

ROBERT DUDLEY hopes to revive BP with Russian crude oil.State-controlled Rosneft will seek to enforce a 7.8 billion US dollar share swap and Arctic partners venture with BP after the British company business Russian billionaire has been blocked.Rosneft "defend its position in the deal, a deal is that is good for Russia," said Deputy Prime Minister Igor Sechin, also Chairman of the oil producer, Friday. "BP suits us as a partner."BP shall apply for a decision on whether the share-swap can be continued, said the company in a statement. It is disappointed by Thursday's result and is looking for, their differences of opinion "to solve Russian billionaire with its partners in TNK-BP, a major oil producer".BP partner, represented by the AAR group, claim the right for TNK-BP, to pursue new opportunities in Russia for the London oil company. Last month, she won an injunction on the deal, which was expanded by an arbitration tribunal Thursday.The ruling is a setback for efforts of BP, one of the world's largest untapped oil exploit finds. The January agreement with Russia of the State oil company was part of CEO Robert Dudley's strategy, the producer to revive u.k. after the last year's Gulf of Mexico of oil Spill.In judges other BP developments: A a judge can cause BP additional tests on the deepwater horizon drilling equipment of rig's Blowout Prevention now", that reviewers have completed their own forensic tests Government."Will be the additional BOP testing in a way that possible preserved the evidence to the maximum extent possible, "US District Judge Carl said Barber on its behalf with reference to the blowout preventer." He decided that other companies, the disaster now additional tests to run, as long as each monitoring procedures and parts in the results.The stack of 300 tons of valves could not in last April ever spilling BP runaway well cordon firing a fatal rig explosion and worst offshore oil of the United States. Documented to increase monthly compensation of $850,000 to nearly $ 1.3 million provided by the administrator of the BP claims Fund for Gulf oil spill victims show that the oil giant agreed to his Office.The documents included a letter from former U.S. Attorney General Michael Mukasey call Czar Kenneth Feinberg. Mukasey said his belief that the extra money was justified because of Feinberg had grown obligations. Feinberg criticized the approximately 500,000 claims which have not submitted, since he took over management of the Fund $20 billion in August for the speed of processing.

View the original article here