UK: BP to Enter into Arbitration Proceedings Over Share Swap with Rosneft

 

BP announced immediate plans to enter into arbitration proceedings to resolve the issues raised by Alfa Petroleum Holdings Limited and OGIP Ventures Limited in their application to the English High Court relating to the share swap agreement and Arctic exploration arrangements agreed between BP and Rosneft, announced on 14 January 2011.

The Court  issued an order, the terms of which were agreed by the parties, that the parties use their best endeavours to have an arbitral tribunal constituted on an expedited basis, with a view to deciding the questions which were before the court today, by 25 February 2011. In accordance with the Court order the share swap agreement with Rosneft will not be completed pending this expedited arbitration hearing.

BP’s head of Russia David Peattie said: “It has always been BP’s position that these matters should be resolved through arbitration, and we are pleased that this is what the Court has now decided.”

Source: BP, February  2, 2011;

Share this article

Follow Offshore Energy Today

One thought on “UK: BP to Enter into Arbitration Proceedings Over Share Swap with Rosneft”

Comments are closed.

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply