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Arbitral panel defers final ruling - BP

April 11/2011

(BP) -- BP announced the arbitral tribunal had ruled that the interim injunction prohibiting closing of the share swap transaction with Rosneft will remain in place until further notice. However BP is now able to discuss the possibility of an extension of the April 14 deadline under which the share swap agreement will terminate. The Arctic opportunity remains under injunction pending further hearings. The share swap and the Arctic opportunity announced January 14 remain subject to the final decision of the arbitral tribunal.

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