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THE long-running saga of BP's troubled Russian joint venture moved closer to a conclusion last night as it held talks on a deal with state-owned oil giant Rosneft. Igor Sechin, chief executive of Rosneft, flew in to London for discussions on buying out BP's 50 per cent stake in TNK-BP in a deal that could be worth as much as £17.5billion for the FTSE 100 group. In what insiders described as "a fast-moving situation" and "a game of brinkmanship" Rosneft also looked poised to buy the remaining stake held by BP's partner, the AAR consortium controlled by a group of Russian billionaires. After years of friction between the two sides, both BP and AAR this year signalled they could sell out of the partnership or seek full control. In a dramatic move last night AAR pulled out of the bidding to buy BP's stake just hours before today's deadline. That paves the way for Rosneft to buy out both BP and AAR to gain control of the highly profitable TNK-BP business and create the world's largest oil company. BP has made it clear that it retains ambitions to remain in Russia and to expand in the Arctic As part of the deal BP is expected to take a 10 per cent stake in the enlarged Russian business, giving it access to one of the world's most important oil-producing countries. AAR sources said the tycoons had decided not to bid because they had been unable to raise sufficient finance in time and BP had signalled it was not interested in their offer. Another major problem for AAR is that Rosneft had already secured backing from a number of key banks who were unable to work with a rival bidder. An alliance between the oligarchs and the Kremlin-backed company has always been seen as unlikely and AAR made it clear that it would seek to sell its holding if Rosneft came on board. Although TNK-BP has been very lucrative, generating £23billion in dividends after an initial investment of £5billion each in 2003, the two partners have always had a stormy relationship. In 2008 Bob Dudley, th

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"THE long-running saga of BP's troubled Russian joint venture moved closer to a conclusion last night as it held talks on a deal with state-owned oil giant Rosneft. Igor Sechin, chief executive of Rosneft, flew in to London for discussions on buying out BP's 50 per cent stake in TNK-BP in a deal that could be worth as much as £17.5billion for the FTSE 100 group. In what insiders described as "a fast-moving situation" and "a game of brinkmanship" Rosneft also looked poised to buy the remaining stake held by BP's partner, the AAR consortium controlled by a group of Russian billionaires. After years of friction between the two sides, both BP and AAR this year signalled they could sell out of the partnership or seek full control. In a dramatic move last night AAR pulled out of the bidding to buy BP's stake just hours before today's deadline. That paves the way for Rosneft to buy out both BP and AAR to gain control of the highly profitable TNK-BP business and create the world's largest oil company. BP has made it clear that it retains ambitions to remain in Russia and to expand in the Arctic As part of the deal BP is expected to take a 10 per cent stake in the enlarged Russian business, giving it access to one of the world's most important oil-producing countries. AAR sources said the tycoons had decided not to bid because they had been unable to raise sufficient finance in time and BP had signalled it was not interested in their offer. Another major problem for AAR is that Rosneft had already secured backing from a number of key banks who were unable to work with a rival bidder. An alliance between the oligarchs and the Kremlin-backed company has always been seen as unlikely and AAR made it clear that it would seek to sell its holding if Rosneft came on board. SEARCH CITY & BUSINESS for: Although TNK-BP has been very lucrative, generating £23billion in dividends after an initial investment of £5billion each in 2003, the two partners have always had a sto

THE long-running saga of BP's troubled Russian joint venture moved closer to a conclusion last night as it held talks on a deal with state-owned oil giant Rosneft. Igor Sechin, chief executive of Rosneft, flew in to London for discussions on buying out BP's 50 per cent stake in TNK-BP in a deal that could be worth as much as £17.5billion for the FTSE 100 group. In what insiders described as "a fast-moving situation" and "a game of brinkmanship" Rosneft also looked poised to buy the remaining stake held by BP's partner, the AAR consortium controlled by a group of Russian billionaires. After years of friction between the two sides, both BP and AAR this year signalled they could sell out of the partnership or seek full control. In a dramatic move last night AAR pulled out of the bidding to buy BP's stake just hours before today's deadline. That paves the way for Rosneft to buy out both BP and AAR to gain control of the highly profitable TNK-BP business and create the world's largest oil company. BP has made it clear that it retains ambitions to remain in Russia and to expand in the Arctic As part of the deal BP is expected to take a 10 per cent stake in the enlarged Russian business, giving it access to one of the world's most important oil-producing countries. AAR sources said the tycoons had decided not to bid because they had been unable to raise sufficient finance in time and BP had signalled it was not interested in their offer. Another major problem for AAR is that Rosneft had already secured backing from a number of key banks who were unable to work with a rival bidder. An alliance between the oligarchs and the Kremlin-backed company has always been seen as unlikely and AAR made it clear that it would seek to sell its holding if Rosneft came on board. Although TNK-BP has been very lucrative, generating £23billion in dividends after an initial investment of £5billion each in 2003, the two partners have always had a stormy relationship. In 2008 Bob Dudley, th

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article code 85258080768 CH, international bp spain holdings news madrid http://www.globalresearch.ca/soaring-markets-troubled-economies-towards-a-global-financial-downfall/5335658 Central banks run today's world. Money printing madness controls everything. Liquidity-driven markets reflect the power of bankers to do it. They're more powerful than standing armies. They can levitate markets. They can enrich themselves at the same time. They can do it while economies crater. The power of massive liquidity infusions combined with market manipulation generates huge profits. What can't go on forever, won't. What's going on now defies reason. Disconnect barely explains it. US equity markets hit record highs. So did Germany's DAX. Japan's Nikkei reached a five and a half year high. One recent headline read "Central banks pop champagne corks as stock markets soar." Another said "Which European Market Will Hit a Record High Next?" Turkey's BIST-100 topped 91,000 for the first time. Switzerland's SMI has a ways to go. It's headed in the right direction. Sweden's OMX Stockholm 30 and the OMX Nordic are closer. London's FTSE 100 looks poised for a record high. It could do so in weeks. Who said defying gravity's impossible? Markets are doing it with ease. Record valuations bear no relation to economic reality. Today's disconnect is unprecedented. Paul Craig Roberts expects an eventual triple bubble explosion. On the one hand, he says "rich elites are stealing everything for themselves." At the same time, he cites "three of the biggest bubbles in history." "The bond market, stock market and the US dollar" are levitating. (S)omething is going to go. This is possibly one of the riskiest years in Western civilization." Combined with police state enforcement and imperial wars, it's menacing. article

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Den långdragna historien om BP: s oroliga ryska joint venture närmat sig en slutsats kväll som det förde samtal om en affär med statliga oljejätten Rosneft. Igor Sechin, vd för Rosneft, flög till London för diskussioner om att köpa ut BP: s 50 procent av aktierna i TNK-BP i en affär som kan vara värd så mycket som £ 17.5billion för FTSE 100-gruppen. I vilka insiders som beskrivs som "en snabbrörlig situation" och "en omgång politisk balansgång" Rosneft också tittat redo att köpa resterande andel ägs av BP: s partner AAR konsortiet som styrs av en grupp ryska miljardärer. Efter år av friktionen mellan de två sidorna, både BP och AAR i år signalerade att de kunde sälja ut av partnerskapet eller söka full kontroll. I en dramatisk rörelse kväll AAR dras ut ur budgivningen för att köpa BP: s andel bara timmar innan dagens deadline. Som bereder vägen för Rosneft att köpa ut både BP och AAR att få kontroll över den mycket lönsamma TNK-BP affärer och skapa världens största oljebolag.