Russian Energy Minister Sergei Shmatko said Monday he doesn't expect BP PLC (BP)and OAO Rosneft (ROSN.RS) to be able to revive their landmark strategic alliance after it was blocked by BP's existing Russian partners, but he said the two energy giants are continuing discussions.
Russian Energy Minister Sergei Shmatko said Monday he doesn't expect BP
PLC (BP)and OAO Rosneft (ROSN.RS) to be able to revive their landmark strategic
alliance after it was blocked by BP's existing Russian partners, but he said
the two energy giants are continuing discussions.
"In its current form, the deal has become a burden," Shmatko told
reporters. "I don't believe there's any chance of reincarnation of the
deal in its current form."
People close to BP and its existing Russian partners--a group of Soviet-born
billionaires known as
AAR
--had expressed hope that the
deal might be resurrected, but Shmatko's comments suggest the Russian
government is less optimistic.
Shmatko said he hopes "BP won't be scared off" by the experience and
noted that BP and Rosneft are still in discussions and might be able to reach
an agreement on swapping assets "in a different time period." He also
said that Rosneft would wait before offering the fields it had discussed with
BP to other foreign partners, noting that it would be "indecent" to
make a deal with a new partner too quickly.
BP and Rosneft announced in January plans for a $16 billion share swap and
joint development of fields in the
Arctic
Sea
off
Russia
. But
AAR
,
arguing that the pact violated the terms of its agreement with BP in their
TNK-BP Ltd. joint venture, went to court in the
U.K.
to
block the deal.
After months of intense talks, discussions broke down earlier this month. The
three sides were close to a deal under which BP and Rosneft would have bought
out
AAR
's 50% stake in TNK-BP for about $32 billion, thus
opening the way for the Arctic-cooperation deal, but the sides couldn't agree
on final terms.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01