Deals
BP Ends Disputes With TNK Partners to Clear Rosneft Way
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BP Plc agreed to end all legal disputes with its billionaire partners in Russia’s third-biggest oil company, clearing a path for the sale of the venture to OAO Rosneft.
The TNK-BP shareholders will drop arbitration against each other and waived the venture’s right to new opportunities in Russia and Ukraine, according to statements today from BP and AAR, the group representing the billionaires. AAR’s battle against a BP-Rosneft alliance last year centered on the nine-year venture’s right to new projects in Russia.