BP Frozen Out Of Russian Arctic As Rosneft Deal Collapses

The collapse of BP's deal with Rosneft is a major blow to the company's post-Macondo strategy, and the company now finds itself in crisis in its two most important markets, the US and Russia. We do not believe that Rosneft will have much trouble finding a replacement for BP in the Arctic exploration venture, though whether or not it will be able to secure another share-swap agreement remains to be seen.

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