Uncertainty about a strategic alliance between Russian state-controlled oil firm Rosneft and Britain’s BP, blocked by the British oil giant’s partners in the TNK-BP joint venture, will not affect BP’s investment projects in Russia, the chief economist of BP’s Russia and CIS operations office said on Thursday.
“Our process is not yet over. So far, there have been no changes in our investment plans,” chief economist Vladimir Drebentsov said.
BP and Rosneft agreed in mid-January to form a strategic alliance to explore the Arctic seabed in a $16 billion share swap deal but BP’s partners in TNK-BP objected to the move, saying all of BP’s new business opportunities in Russia and Ukraine must be pursued through the Russian-British joint oil venture.
The JV’s Russian billionaire shareholders won…