BP says arbitration panel gives nod to Rosneft share swap

6th May 2011, Comments 0 comments

British energy giant BP announced on Friday that an arbitration panel has given approval to its Arctic oil tie-up with Rosneft, subject to agreement from the Russian state-owned group.

"The order also permits the proposed share swap between BP and Rosneft to proceed subject to Rosneft having consented to assign the Arctic opportunity to TNK--BP," BP said in a statement.

© 2011 AFP

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