BP’s Costly Arctic Dream


Out of the frying pan, into the deep freeze.

After a disastrous year in the U.S. dealing with its Gulf of Mexico oil spill, BP attempted a fresh start. Its deal with Russian oil company Rosneft was meant to open new growth opportunities in the Arctic. But with BP’s existing Russian partners in TNK-BP, Alfa Access Renova, or AAR, digging in their heels, the U.K. oil company has to decide how far to stretch in order to secure its deal with state-controlled Rosneft.

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