A lot of speculations were going on in regard to the deal taking place between the British energy giant BP and Rosneft, the Russian state oil company. Initially, none of the parties were commenting on the topic.

In a recent report, it has been revealed that Global Oil major BP has recalled its supplied gasoline. The gasoline was found to be contaminated and has said to cause problems to engines and creating problems at the time when vehicles were being started.

There seems to be no early respite for the British oil giant, BP following a major fiasco in Gulf-of-Mexico. As per reports, the deal between BP and Rosneft for an Arctic exploration venture has been jinxed on Tuesday against deadlock with its existing partners in Russia, known as AAR, which has been earning profits with its deal in the name of TNK-BP.

After the torment BP had to face in the past one year due to the oil spill disaster in the Gulf of Mexico, it has started recovering. It has recorded a net profit with a 17% increase. This is a very positive sign for the firm and it is recovering speedily.

A year after the terrible oil spill that had occurred in the Gulf of Mexico, the oil giant BP has filed a case against the Halliburton and Transocean for the damages they incurred during the disaster.

The investigators were wrong who earlier reported that there was no crude oil leak involved in case of BP oil rig, which exploded and sank in Gulf of Mexico last April and killed 11 workers.

BP has agreed to sell its Arco Aluminium unit to a Japanese consortium for $680 million. The Japanese consortium is constituted of five Japanese companies.

A formal permission is sought by the bosses of BP to resume their drilling operations in the Gulf of Mexico in less than a year after a unit of the leading player in the oil and gas industry reported of an explosion.

The well known Arctic exploration corporate deal between British oil giant (BP) and Rosneft is under clouds. As per the reports, four businessmen, who were in agreement with the British oil giant, BP, are planning to break the deal between BP and their hard core rival Rosneft.

Rosneft, country’s largest oil company had a deal with BP which has been blocked now by an arbitration panel. The blockage of the wound disables the companies from jointly exploring for oil in Russia's Arctic. The Arctic exploration agreement was announced by the Russian government in January.