That article is from July 17th. I agree Rosneft was included in the initial sanctions. Many companies were, and those only stopped those companies from accessing US credit.
However, yesterday, the US and EU imposed much harsher sanctions which actually prevent any US/EU companies from providing equipment to certain companies or doing business with those companies. Rosneft was NOT included.
So, when you write that Rosneft is included in yesterday's sanctions, you are incorrect.
Don't get me wrong, I agree, if any when Rosneft is included in the type of sanctions we saw yesterday, this will be a serious risk to BP's share in Rosneft. But sometimes we need to be careful what we say!
There is no such thing as "clean coal technologies." That is false advertising meant to detract from the reality of CO2 being added to the atmosphere.
When coal companies say "clean coal," they refer to sulpher and dirt, NOT CO2.
People need to know the truth on this important issue which threatens the planet.
Actually Rosneft is not "included among their list" as you wrote. The list of companies which have been sanctioned are all doing business in Crimea.
That's not to say BP doesn't face risk with the ongoing sanctions. But we should try to remain factually accurate, which benefits everyone if you think about it.
And to those who call names based on false accusations, I only offer this post as Exhibit A in refutation.
Today's UK Telegraph has a good article on this subject ("BP's Faustian Pact with Russia"). It is now clear that BP's financial future is closely aligned with that of Valdimir Putin. The article states:
"The question for BP is why it joined the wolf pack tearing apart the Yukos carcass a decade ago, and took part in bids for Yukos assets in very close association with Rosneft, despite warnings that was acquiring “stolen assets” and might one day find it had no legal protection.
A cursory reading of the ruling by tribunal makes it crystal clear that no responsible company should have had anything to do with this episode. Nor has it stopped. BP has sunk deeper into the morass, becoming a creditor, and pledging to go ahead with a joint venture with Rosneft to extract shale in the Volga Urals even after the US placed Mr Sechin on its sanctions list.
It is far from clear that there has ever been a proper accounting of the serial political misjudgements that led BP to bet so much of its corporate future on the Putin regime. The management misread Russia. They misread the fundamental nature of Putinism.
They have been in denial ever since, but events unfolding now on so many fronts at once risks washing over them like a tidal wave. There is “non-insignificant” risk – to borrow from lawyers – that BP may lose its Rosneft stake as the sanctions war escalates."
It's not clear to me how the arbitration ruling could directly effect BP. But it can't be good news.
I believe Russia is ordered to pay the $50B, not Rosneft. But Putin will surely refuse, which could trigger sanctions against Russia's oil/gas industry, including Rosneft.
BP was well-aware when it bought into Rosneft that it was buying into illegally seized assets. When Putin seized the assets of Yukos, the assets were sold off for $9B to Rosneft (state-controlled). A classic "no-bid" auction. Now Rosneft has a value of $115B.
They say bad karma begets bad karma.
Are you Steve who used to post here? You defended be against a poster named nadsmis on the BP and COP boards. I could use a little help from you again!
Great analysis. You seem very civil. We need more of that. Some people are complete losers. Doesn't it feel better when you put them on ignore?
Look forward to more great posts by you!!
Another SP by the BP.
Readers, disregard any of this nonsense by the racist stalker and his phantom friends. He's obviously in the death throes of psychiatric breakdown and it hopefully won't be long before he takes an involuntary hiatus from the civilized world.
I consider this matter now closed.
Look everyone. The racist stalker has a new sock puppet named 2dogsdad. This is probably the 8th sockpuppet I've seen from that sick old man.
Do you know what we do to internet bullies/stalkers? Hit them back!
2dogsdad, go tell your racist stalking puppeteer it's time for him to stop blaming women for his anatomical SHORTcomings, i.e., his small pecker.
Oh it's the resident misogynist stalker.
Again, it's not my fault - or the fault of any woman - that he is inadequate. Hit bullies back, expose stalkers, say no to racists, and end internet harassment.
Nadsmis has a little pecker. Rinse and repeat.
That poster is an outlier who seems to cherry-pick data and didn't even try to publish in a peer-reviewed journal! Did you know that's how scientists tell if a theory is reputable or not - it's got to be peer-reviewed!
98% of scientists believe global warming is occurring and is caused by the release of greenhouse gases from people.
You can continue to stick with your outliers, I will remind people of what the actual scientific consensus is.
Are there any posters here who are scientists? I'd love to hear from you!
That's a fair point that lawyers in this country frequently abuse the system and are motivated too often by profit.
But the same can be said for corporate behavior.
Let's try to be objective and everyone will benefit.
Thank you, and good luck to you in your endeavors/investments
nadsmis the #$%$ stalker, takes out his anatomical shortcomings on women.
Not my fault God gave him a little pecker.
He takes out his cognitive limitations on Asians.
Not their fault God gave him a lame brain.
Thanks again to all for shunning his kind. We make the world a better place for civilized adults.
and files defamation suit against BP challenging BP's "campaign of misinformation and intimidation."
As reported in today's Nola Times.
I think everyone can agree we need more objective information and facts, and less corporate spin.
I read today that the US leads the world in harboring climate change deniers.
One read of 2dogsdad's gibberish provides a glimpse into the juvenile stupidity that passes for communication, confirming what the rest of the world knows - American men lead the world in stupidity when it comes to issues affecting the world!!
Your writing sounds very familiar, like that of an old friend. His name was Tom, and he formerly posted here. That is, until he was driven off by a racist who hated Asian-Americans such as yourself, or such as Tom.
Is this you, Tom. If you're more comfortable, I will use the alias "Chuck." I miss your tender ways.
You might be interested to learn that June 2014 set another record for hottest June on record. In fact, that's 29 years of consecutive months with above-average temperatures, dating back to 1985.
I'm sure in your mind, it's all a big conspiracy by the liberal scientists.
Keep mocking, you'll be docking (your house when the sea levels rise). I made that one up myself, when you hear it you'll know I'm the real deal.
"I am talking about the fraudulent claims that have been made and paid out with government support. The majority of claims is now believed to be completely or partially fraudulent."
That claim is absolutely false. If you believe claims are fraudulent because a bright-line causation test is not required, your anger should be directed at BP, which agreed on this to avoid litigation.