Shows & Panels
- AFCEA Answers
- Ask the CIO
- The Big Data Dilemma
- Carrying On with Continuity of Operations
- Connected Government
- Constituent Servicing
- Continuous Monitoring: Tools and Techniques for Trustworthy Government IT
- The Cyber Imperative
- Cyber Solutions for 2013 and Beyond
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Expert Voices
- Federal Executive Forum
- Federal IT Challenge
- Federal Tech Talk
- Mission-critical Apps in the Cloud
- The Modern Federal Threat Landscape
- The Path from Legacy Systems
- The Real Deal on Digital Government
- The Reality of Continuous Monitoring... Is Your Agency Secure?
- Veterans in Private Sector: Making the Transition
Shows & Panels
BP, AAR settle all disputes from TNK-BP
Tuesday - 11/13/2012, 8:47am EST
LONDON (AP) - British oil company BP and its Russian partner AAR say they have settled all disputes between them as both prepare to sell their stakes in their lucrative but contentious joint venture, TNK-BP.
Both have agreed to sell their positions to the Russian state-controlled oil company Rosneft.
BP noted Tuesday that the agreement ends its commitment to give AAR the right of first refusal to join any new ventures in Russia. That provision had killed BP's earlier deal to join with Rosneft in exploring for undersea oil in the Arctic.
Neither side would comment on reports that some cash from BP helped to seal the peace pact.
"This agreement is a win-win for both parties," said AAR Chief Executive Stan Polovets.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)