Deadlock Between BP and Its Strategic Russian Partner, TNK-BP Continues

.

Deadlock Between BP and Its Strategic Russian Partner, TNK-BP Continues

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.

As per BP Chief Executive, Bob Dudley, the deal with Russian state-controlled Rosneft is a lucrative offer to revive its crippling financial situation by roping in return rather than focusing on output.

As BP has been lobbying really hard for Rosneft deal, the market analysts are of the view that Dudley's strategy of diluting mature assets and seeking out new projects are going to collapse sooner or later.

Inspite of gaining below par profit from BP’s business association with places like China, India and Indonesia, BP’s future remained under clouds in the US, where it’s facing billions of compensation claims due to pilferage of oil in Gulf-of-Mexico, causing major environmental damage to the Americans in the history.

Inspite of consistent assertion from Rosneft over its belief on the capability of Dudley to seam through such times, market analysts are of the view that lest some concrete deal is being struck by BP, investors won’t be putting much weight to the association between BP and its Russian partner.


Latest News

Apigee Becomes the Second Tech Company for Silicon Valley to go Public this Year
Massive Crane Begins its First lift Helping to Build the Tappan Zee Bridge
Shares of Facebook Drop as the Social Networking Company Fails to Match Expectat
First Quarter Profits of Discover Financial Services Drops but Surpasses Analyst
Amgen Inc. Announced First Quarter Earnings that Beat Analysts’ Expectations and
Magnificent, Perfect100-carat Diamond Sells for $22Millon in Sotheby’s Jewelry A
Kraft Revamping Its Iconic Macaroni and Cheese Meal by Removing Synthetic Colour
San Juan Capistrano’s Tiered Rates for Water-Use Thrown Out by Appeals Court
Morgan Stanley Announces Better than Expected First Quarter Profits
Bombardier Aerospace secures contract from Air Niugini
Blue Cross and Blue Shield of Alabama and Alfa Insurance Are Expanding their Par
Diners Club