I have just heard on the Radio that the Russian State-owned Oil Company Rosneft has allowed BP to take a 10% stake in the Russian Oil company, in return for Russia taking just a 5% stake in BP.
Wow thats a wonderful deal for BP,..who no doubt having been forced to divest itself from its oil rigs in the Gulf, was made an offer it could not refuse. It has certainly landed on its feet big time.
Russian state Oil Co is now going to allow BP to explore drill and extract Oil from the shallow Artic Shelf. This area must be at least as big as the North Sea, and more than likely holds at least a quarter of the Worlds unexplored Oil and Gas reserves.
A senior Democrat in the House of Representatives, said: "BP once stood for British Petroleum. With this deal, it now stands for Bolshoi Petroleum.
He also said this acquisition will almost certainly complicate the politics of levying and collecting damages from BP. As well as making our own extraction of Oil in the Gulf, a more difficult job, on our own.
My Thoughts****
With the Artic ice shrinking due to Global warming, the shallow Artic Shelf must hold untold financial riches.
I believe that BP is now poised to become the Worlds richest Oil company.
With continuing Global warming I can see Americans having to eventually buy its Oil and Gas from the Russians, via the short pipe the Russians are bound to build across/under the North Pole to America and Canada.
