The Gulf Oil Spill and BP Petroleum forced both the United States and England's largest corporation to deal with an oil spill disaster. What is known about BP is that it operates by selling its oil derivatives under two internationally known names, BP and AMOCO. The products made by these oil giants are sold internationally to wholesalers and to retailers. The current price of BP in the US market is $47.
What is of interest to investors is the price per share of BP which is currently at $47. The stock is said to have a potential of tripling in value and some of the reasoning behind the positive buy on BP stock might be their new agreement with the Russians which given them a global union not enjoyed by other oil companies.
BP and the Russian oil concern Rosneft have agreed to look for oil in the Russian Arctic continental shelf. Permission was given to Rosneft to explore 125,000 kilometers of area in the South Kara Sea in 2010. According to BP assumptions, the area has as much potential and is equal to the United Kingdom's North Sea. The partnership between Rosneft and BP is a historical one as it is the first of its kind between a national oil company and an international oil company.
What is known about the actual figures in the agreement is that BP and Rosneft will exchange common voting shares of stocks. BP is giving Rosneft 5% of its voting shares and Rosneft is giving BP 9.5% of its shares. In addition, BP has agreed to help build an Arctic technology center in Russian concentrating on mining Arctic shelf hydrocarbon resources.
The partnership has been touted by Bob Dudley of BP as being of singular importance to the future research and exploration of energy products. Rosneft is Russia's largest energy producer. The two companies share much in common as well as being each other's countries largest energy producers.
What is of interest to investors is the price per share of BP which is currently at $47. The stock is said to have a potential of tripling in value and some of the reasoning behind the positive buy on BP stock might be their new agreement with the Russians which given them a global union not enjoyed by other oil companies.
BP and the Russian oil concern Rosneft have agreed to look for oil in the Russian Arctic continental shelf. Permission was given to Rosneft to explore 125,000 kilometers of area in the South Kara Sea in 2010. According to BP assumptions, the area has as much potential and is equal to the United Kingdom's North Sea. The partnership between Rosneft and BP is a historical one as it is the first of its kind between a national oil company and an international oil company.
What is known about the actual figures in the agreement is that BP and Rosneft will exchange common voting shares of stocks. BP is giving Rosneft 5% of its voting shares and Rosneft is giving BP 9.5% of its shares. In addition, BP has agreed to help build an Arctic technology center in Russian concentrating on mining Arctic shelf hydrocarbon resources.
The partnership has been touted by Bob Dudley of BP as being of singular importance to the future research and exploration of energy products. Rosneft is Russia's largest energy producer. The two companies share much in common as well as being each other's countries largest energy producers.
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