BP CEO nominated for Rosneft board of directors March 1, 2013 - 10:10 AMT PanARMENIAN.Net - British oil major BP’s CEO Robert Dudley has been nominated for the board of directors of Russia’s state-run oil major Rosneft as a state representative, according to a government decree published on Friday, March 1, RIA Novosti reported. BP secured two board seats at Rosneft after an agreement to sell its 50 percent stake in Russian joint venture TNK-BP to the company. Last October, Rosneft announced the all-out purchase of TNK-BP from BP and the AAR consortium of Russian billionaire shareholders. Under the deal, BP will receive $17.1 billion in cash for its 50 percent stake plus stock representing 12.84 percent of Rosneft’s shares, while the AAR consortium of Soviet-born billionaire shareholders will sell its 50 percent stake in the joint venture “for cash consideration of $28 billion.” The deal is expected to close in the first half of 2013. Rosneft head Igor Sechin said in January that the company would welcome Dudley’s inclusion on the board. Meanwhile, three incumbent Rosneft board members – Bank of Moscow head Mikhail Kuzovlev, President of UCP holding Ilya Shcherbovich and VTB Senior Vice President Sergei Shishin – have not been nominated for the new board.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news U.S. warns Georgia not to side with Moscow against the west  Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow.Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for childrenMoscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said.Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |
