BP deal with Russia sparks controversy

first_img BP deal with Russia sparks controversy Sunday 16 January 2011 10:46 pm Share Show Comments ▼ Tags: NULL whatsappcenter_img whatsapp CONCERNS grew yesterday about the political implications of BP’s $16bn (£10bn) share swap with Russia’s state-owned oil firm Rosneft.Shadow justice minister Chris Bryant said in an interview that BP needs “a strong anti-corruption” strategy to work with the company.Labour leader Ed Miliband said he was “pretty worried” about the environmental aspect of the deal, saying in a BBC interview: “I think that the lesson of the Deepwater Horizon, the Gulf oil spill, should be that… the task for all of us, private companies, government and so on, is not to just keep digging and digging deeper and deeper for oil.”The UK government was not involved in negotiating the deal, though energy secretary Chris Huhne spoke at BP’s announcement on Friday night.Russian prime minister Vladimir Putin met with BP’s board and has offered tax concessions to smooth the venture’s path.Criticism from the US, where 39 per cent of BP shareholders are based, has been particularly fierce in light of the Gulf of Mexico disaster and last year’s uncovering of suspected Russian spies across the country.Democratic congressman Ed Markey and Republican Michael Burgess called for the US government to look into the deal amid fears of a security risk from Russian involvement in the firm.“BP once stood for British Petroleum,” said Markey. “With this deal, it now stands for Bolshoi Petroleum.”BGC Capital strategist David Buik sounded a more positive note. “The oil in Russia will be significantly easier to get at than in other fields as the water is much shallower. The only hurdles BP will face are political.” BP18bn barrels of oil in reservegiving away 988m shares worth $7.8bngaining access to 125,000km squared oil fieldSHAREHOLDERS:39% are in the US40% are in the UKROSNEFT:22.9bn barrels of oil in reservegiving away 1bn shares worth $8.2bn75% owned by the Russian government. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adslast_img

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