Posted: Apr 14, 2011 4:40 AM by Nichole Larkey & AP
LONDON (AP) - BP says it has agreed with the Russian oil company Rosneft to extend the deadline for a share swap agreement which has
been stalled by another Russian firm.
BP announced Thursday that the deadline, which had been April 14, has been moved to May 16.
BP is waiting for a Swedish arbitration panel to rule on its dispute with Alfa Petroleum Holdings, the British company's partner
in the TNK-BP joint venture. The Russian side contends the Rosneft
deal violates the joint venture agreement.
BP and Rosneft announced in January that they intended to team
up to search for oil beneath the Arctic Ocean.