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A former BP top manager who supervised the failed deal with Rosneft may join the local firm of the latter

October 06/2011

(RIA Novosti) -- Larry Bates, a former BP top manager, who supervised the failed tie-up deal in January between the British oil giant and Russia's largest state-run oil company Rosneft, may join the local firm as vice president, Kommersant business daily said on Wednesday quoting a Rosneft official. Bates may be officially appointed by the end of the year, the paper added. A Rosneft representative said the company was considering Bates' candidacy , but declined to name the exact position, while a source in Rosneft said Bates might be appointed as advisor to Rosneft President Eduard Khudainatov.


In January, BP and Rosneft struck a $16-billion agreement to develop the Arctic shelf with BP getting new reserves and Rosneft gaining shelf technologies it lacked. But the deal collapsed after BP's partners in its local project said the Rosneft deal violated a shareholder agreement between them and the British major.


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