Support The Moscow Times!

BP and Rosneft in Germany

LONDON — BP said Rosneft has completed a deal to become the British company's partner in German refining joint venture Ruhr Oel.

BP chief executive Bob Dudley said Thursday that the close of the deal, originally announced in October, is "further strengthening our relationship with Rosneft." Rosneft paid $1.6 billion to buy the 50 percent shareholding in Ruhr Oel, which holds stakes in four German refineries and petrochemical plants, from Petroleos de Venezuela.

BP is battling to finalize another deal with Rosneft — a $16 billion share swap to explore the Russian Arctic that has been challenged in the courts by its partners in its other Russian joint venture, TNK-BP.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more