I am being told by people close to BP that the British oil giant is poised this evening to unveil a major transaction with Rosneft, the state-owned Russian energy company.
The details are unclear at this stage but my strong sense is that the two companies are to engage in a share swap that would involve Rosneft taking a sizeable stake in BP.
Bob Dudley, BP's new chief executive, has been in Moscow today and held talks with Vladimir Putin, the Russian prime minister.
I'll have more on this as I get it.
Concern about integrity - Stake your post at 2:38 was over a half hour after Reuter's report (BP announces Russia deal (1:50) and BP trading had already spiked. You post like you really have some hot stuff and are well plugged in. That seems dishonest to me.
I noticed that too. "Stakeholder" tried to make himself look like he had "hot inside information" -- I thought he'd be smarter and understand how the time-stamp on everything would demonstrate his deception.
(Either that, or he is being "manipulated" by others and he was thinking he's got "friends" in-the-know, but they are just feeding him from public sources of info.)
Reforms Back to Square One
11 January 2011
By James Beadle
Seven years after it began, the Yukos affair [and control by Rosneft] remains one of the most contentious and divisive aspects of the Russian investment climate.
Pro- and anti-Kremlin agents are armed with clear and often valid arguments and have sufficient funding to get them publicly aired.
Unsurprisingly, international investors remain confused about the case and its implications.
A source familiar with the matter said the planned deal would involve the two companies exploring for oil and gas jointly, in Russia and elsewhere.