BP, Rosneft Deal Unlikely to Be Revived, Russian Official Says - ADRs Down 2% in Afternoon Trading

- BP, Rosneft Deal Unlikely to Be Revived, Russian Official Says - ADRs Down 2% in Afternoon Trading



May 23, 2011

BP plc (BP) ADRs are down after Russian Energy Minister Sergei Shmatko said he doesn't see the arrangement between the british oil major and Russia's OAO Rosneft to come back, MarketWatch reported.

Some close to the deal had reportedly held out hope that the two parties would revive the deal for a $16 billion share swap and joint exploration and development of plots in the Arctic Sea.

BP ADRs are down 2%, or $0.91, to $44.09.

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