Oil firm BP has been dealt a fresh blow as its planned $16bn tie-up with Russia's Rosneft has been halted. An arbitration panel in Stockholm ruled on the case after Russian investors won a temporary injunction from a London court against the deal.
BP and Rosneft hailed the tie-up as a major step forward for the two companies as it would see them explore for oil in the Arctic offshore.
The UK-based company said it was "disappointed that these agreements, which are important for Russia, for Rosneft and for BP, cannot for now go ahead in the form intended".
BP has said it hopes the deal can proceed in some way. Read More
No comments:
Post a Comment