BP PLC BP. BP AND AAR SETTLE ALL OUTSTANDING DISPUTES

  BP PLC (BP.) - BP AND AAR SETTLE ALL OUTSTANDING DISPUTES

RNS Number : 9983Q
BP PLC
13 November 2012




press release









13 November 2012





                  BP and AAR SETTLE ALL outstanding DISPUTES





BP and  AAR, joint  shareholders in  TNK-BP, today  announced that  they  have 
reached a comprehensive agreement to  settle all outstanding disputes  between 
them, including the current arbitrations brought by each against the other.



The agreement includes an immediate waiver of the new opportunities  provision 
in the  TNK-BP  shareholder agreement,  allowing  each party  to  explore  new 
opportunities  and  partnerships   in  Russia  and   the  Ukraine,   effective 
immediately.



The parties have agreed  to work constructively together  with each other  and 
with Rosneft to progress their respective disposals of their shareholdings  in 
TNK-BP.





Further information:



BP press office, London: +44 (0)20 7496 4076, bppress@bp.com





                                   - ENDS -



                     This information is provided by RNS
           The company news service from the London Stock Exchange

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AGRGGGBPGUPPGGW -0- Nov/13/2012 11:31 GMT
 
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