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BP puts on hold $10 mln co-investment Russia project

BP will be in the ice for the $10 million of the kremlin's leading research and development center, and local partners in Russia after intense conflict of joint venture investment project, according to a report.
British oil company and Skolkovo fund, this is the leadership 0.1 billion millionaire victor Vekselberg and realize the kremlin's set up a research and development center outside Moscow, in a planned way, with cooperation, investment in a three-year 6.7 million pound ($10.5 million) oil research projects, "a businessman reported for example, a people familiar with the talks.
The signing of the agreement, which also includes Russia Boreskov institute of catalytic and imperial college London, is to have taken place in British prime minister David Cameron minister of a landmark visit to Moscow earlier this month, but the British oil company exit at the last minute, in the newspaper said.
The move came after the Russian state control, BP's oil company Rosneft company to form a joint venture to explore arctic trade after the Russian shareholders fainted in Russian joint venture business, suspends BP, puts forward a complaint, trading invasion, and British their own shareholders agreements company.
Known as alpha visit Renault watts (AAR) and include Vekselberg column's group shareholders,.
Businessman newspaper, "said, of the British company hopes to delay projects to ensure that its plans in Russia investment will not constitute its current shareholders agreements, thus turn AAR infringment table.
According to a close to Skolkovo told "businessman reported as irrational and may want to BP in Vekselberg" embarrassing situation. "
The arctic oil exploration agreement was finally granted the United States ChaoJuXing exxon mobil, and BP in part by the shareholders by the bailiff court held in Russia $300 million under the condition of the search to the office.
BP from the research project of the last minutes evacuated blow the government leading drive, to establish Skolkovo hub Moscow on the outskirts of the President dmitry medvedev hope becomes the silicon valley of Russian version.




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