Alliance of BP and Rosneft under Threat
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.
The above questioned four businessmen are expected to challenge the deal in order to keep the competition in the field of oil exploration. Responding to the news, Igor Sechin, Russia's powerful Deputy Prime Minister and Chairman of Rosneft, reportedly claimed that the company is planning to take all possible measures to make the deal work for the benefit of both the parties and assured that the deal will survive to its full tenure.
Nevertheless, BP's share prices tumbled a little , market analysts believe that investors have full faith in the strength of the management board of oil giant BP as they have a strong backing of the Russian Prime Minister, Vladimir Putin in order to make the deal go through.
Moreover, many experts have confirmed that market was well averse with the fact that Rosneft agreement will be under attack of many competitors.
However, the market is full of conflicting news that Rosneft might buy the stake of the four Russians in TNK-BP. Responding to the rumor mills, a spokesman for the four billionaires came out to defend the long-term strategic partnership of ASR with TNK-BP.