Agreement Between BP and Russian Oil Giant Collapses

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Source: The New York Times

LONDON — The disputed share swap and oil exploration agreement between BP and the Russian state-owned company Rosneft has collapsed, leaving some BP investors questioning the company’s future strategy and freeing Rosneft to look for a new partner in Russia.

After a Monday midnight deadline passed, BP’s proposed deal with Rosneft lapsed as the company failed to reach a last-minute agreement with Rosneft and resolve a dispute with BP’s Russian partners in a separate joint venture, TNK-BP.

The TNK-BP partners had taken legal action to block the BP-Rosneft deal almost as soon as it was announced in January.

BP said Tuesday it would continue to talk to both Rosneft and its partners in TNK-BP about collaborating in the future. But some analysts said salvaging the original deal would be difficult.

Read more: http://www.nytimes.com/2011/05/18/business/global/18bp.html

[Drale]

1. BP is trying to do business with socialists?!?!?!

SOCIALISTS RABBLE RABBLE SOMETHING RABBLE RABBLE EVIL RABBLE!!!:rofl: