Jump to content
House Price Crash Forum
kevino

Bp/rosneft Tie Up

Recommended Posts

But Dudley already has experience of Russia & Oil though. Could BP go the same way? Have Russia spotted a weakened oil company after the GOM incident and are going in for the kill? (Just to add a counter perspective). ;)

Sure... I am trying not to say too much tbh as a result of my position there - draw your own conclusions i say!

:)

Im not sure "in for the kill" is quite the analagy.. but 5% does a significant degree of influence - but you dont have to have any shareholding in the company to have significant influence - as we have seen quite clearly in the US....

I think when the share price was £2.96 BP was potentially there for the taking - the market valued it at less than the collective sum of its tables and chairs - but at £5 I think the storm has been weathered - for now at any rate.. Shares in the us up 4% on this news so expect £5.20 sp on Monday am..... For the record, the sp on 19th April 2010 was £6.56.... its been a rollercoaster for anyone 'significantly exposed' to the BP sp I'll tell you!....

Share this post


Link to post
Share on other sites

Hydrocarbons beget more hydrocarbons, the mind boggles at the sheer abundance of this powerful resource.

You mean I may be able to afford to run my car in the future, after all?

Share this post


Link to post
Share on other sites

As Putin eventually becomes a very rich man as money changes direction into his newly setup Swiss Bank Account. Strange just a few weeks ago he got rid of the Opposition :rolleyes:

Putin is already one of the richest men in Russia, he is chairman of Gazprom (though this is not public info).

Share this post


Link to post
Share on other sites

yes absolutely maybe your grandkids will have cars fueled by natural gas but petrol is here to stay and for you to use.

The only sure thing is that electrical cars will never take off.

don't be too sure.

0_61_011109_FlyingCar.jpg

Share this post


Link to post
Share on other sites

Its just politics to reign in the US to a point. Russia would love to stand up to the US on something.

Just look at the latest nuclear proliferation agreement between them. Basically the US had to sign it or else.

The last nuclear agreement the US signed was a waste of paper becuase the US said they didnt develop any new nukes, the existing ones were "upgraded"! Sneaky imo.

Personally I dont think you can trust the US any more. Through out recent history from WW2 onwards they have had a whiff of opportunity and have seized it which you cant blame and then abused it, just like their exploitation of the UK during WW2 and the loan they made only to then go on and flood the world with dollars anyway.

Russia, India & China and pretty much the rest of the world are starting to stand up to the US now as they can smell the end of the empire in the air.

Likewise this deal also helps push the British Way of doing things. We wont need much of an armed force soon becuase everything will be owned by overseas people and that means they wont bomb their own assets. Its a way of bringing the world together in some respects for the mutual benefit of each other. (just my limited take on a small bit of global politics)

So yes the deal will go ahead and yes BP will do well out of it, just like you wont find any oil in the Falklands until the UK has its finances and thus new and improved navy operational either. ;););)

Excellent post!!

;-)

:-)

Share this post


Link to post
Share on other sites

:lol::lol::lol: It now appears that the Russians do not have the technical knowledge and know how to extract the oil and gas from the very difficult conditions in the Russian Arctic, but BP according to sources do. No wonder Putin is kissing their posteriors. :rolleyes:

Share this post


Link to post
Share on other sites

:lol::lol::lol: It now appears that the Russians do not have the technical knowledge and know how to extract the oil and gas from the very difficult conditions in the Russian Arctic, but BP according to sources do. No wonder Putin is kissing their posteriors. :rolleyes:

And as a bonus, he gets to annoy Obama.

Share this post


Link to post
Share on other sites

:lol::lol::lol: It now appears that the Russians do not have the technical knowledge and know how to extract the oil and gas from the very difficult conditions in the Russian Arctic, but BP according to sources do. No wonder Putin is kissing their posteriors. :rolleyes:

Yes, BP does. North Sea, West of Shetlands where I've worked for last 5 years, as well as Alaska. Harsh environment and cold temperatures, subsea. A lot of experience in BP.

Share this post


Link to post
Share on other sites

BP Ties Up 'Historic' £10bn Deal With Russia

Last Updated 22:46 14/01/2011

Pete Norman, Sky News Online

A company controlled by the Russian government has agreed an "historic" multi-billion-pound deal with BP that will open up massive Arctic oil fields to exploration by the London-based oil giant.

Rosneft has agreed to take a 5% stake in BP, which itself will get a 9.5% stake in the Russian firm in return.

BP chief executive Bob Dudley and Rosneft's Igor Sechin signed contract documents at BP's London headquarters on Friday night.

Mr Dudley said it was "an historic moment for BP".

Mr Sechin said it would improve both "trust" and "transparency" between the firms.

The deal will cover both oil and gas production in Russia's extensive energy resource areas.

Sky's City editor Mark Kleinman had earlier revealed exclusively details of a share swap and that Mr Dudley met Russia's Prime Minister Vladimir Putin in Moscow early on Friday.

Mr Sechin is both chairman of Rosneft and deputy to Mr Putin.

City analysts said the tie-up would leave BP well-placed to capitalise on Russian oil interests, but may risk upsetting US investors.

Justin Urquhart Stewart, co-founder of Seven Investment Management, said: "This is going to have some serious repercussions in America, because they do not take kindly to Russia taking serious control in any areas.

"But in terms of BP, it gives them fantastic access to the large oil fields in the Arctic."

He added: "It puts BP in the wonderful position of having a head-start against its rivals in Russia.

"But it will put the company in a difficult position in America. They won't like it becoming a quasi-Russian company."

The strategic corporate move comes after the explosion on the Deepwater Horizon rig about 40 miles off the coast of Louisiana last April, killing 11 workers and unleashing an environmental crisis.

It cost the company tens of billions of pounds and led to the departure of former chief executive Tony Hayward last October with a £1m payout.

"The irony of the situation, as far as Dudley is concerned, is also worth noting," Kleinman said.

"BP's new boss was hounded out of Russia in 2008 while he headed TNK-BP, its joint venture in the country."

Share this post


Link to post
Share on other sites

So yes the deal will go ahead and yes BP will do well out of it,

so I'm the only one who can remember the sh1t-fest that was tnk-bp?

Share this post


Link to post
Share on other sites

Justin Urquhart Stewart, co-founder of Seven Investment Management, said: "This is going to have some serious repercussions in America, because they do not take kindly to Russia taking serious control in any areas.

Rubbish Justin, the American motorist will do a deal with the Devil if it means they can fill up their fuel guzzlers cheap. ;)

Share this post


Link to post
Share on other sites

That was then, this is now.

When new data appears people learn and adapt.

I havent forgotten what happened to Dudley with TNK either, but Russia has moved on. Times have changed.

:lol:

Perhaps you have forgotten the wikileaks that refer to Russia as a "mafia state"? Times may have changed. Has Putin? Can't you recall how BP criticised him for letting a bunch of oligarchs metaphorically set about them with pliers and a blow torch?

Charlie says the Russian's are desperate to have the know-how. The way I see it, BP are desperate for the exploration rights. They must be to get back into bed with a bunch of people who humiliated them so publicly.

Share this post


Link to post
Share on other sites

so I'm the only one who can remember the sh1t-fest that was tnk-bp?

I doubt very much that the negotiators at a $100bn co like BP have forgotten. This is a new deal.

Share this post


Link to post
Share on other sites

I can relate to this having just had 20b pounds worth of investment in LNG announced in my back yard. With another 20b to follow shortly thereafter.

Queensland Gets Gas Boost

How's the coal mines doing there after the floods? Making coking at the nearly the same rate? Billions into LNG looks impressive.

Share this post


Link to post
Share on other sites

Most if not all have suffered some degree of flooding in QLD, NSW mines are okay. There are two issues flooded mines and also flooded rail road systems although I am reading reports that some of the rail lines have held up surprisingly well and production and transport should restart soon. None of the coal handling facilities have been affected so all in all just a blip on the production curve with plenty of ships parked up waiting to load.

Yes the LNG boom is truly amazing especially coming form a base of zero.

Good news for Oz economically. Hope not too many people have suffered from the floods though. We had some in Yorks in 2007 and plenty of houses had their sofas floating to ceiling level. The pics we saw on the BBC looked similar for some places in Queensland.

Share this post


Link to post
Share on other sites

T

Russia, India & China and pretty much the rest of the world are starting to stand up to the US now as they can smell the end of the empire in the air.

Not going to happen. The east have to play by the fair-play-rules to see-off the north american empire.

Unfortunately for them the north americas set those very rules - and will be apt to change them if necessary.

Edited by Alan B'Stard MP

Share this post


Link to post
Share on other sites

T

Not going to happen. The east have to play by the fair-play-rules to see-off the north american empire.

Unfortunately for them the north americas set those very rules - and will be apt to change them if necessary.

'Have to'? There is no 'have to'. There's a new game in town.

You lost yesterday Alan. I think you know what I mean. ;)

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.