Friday, June 1, 2007

Russia Postpones Decision on BP License for $18 Billion Siberian Gas Field

(Bloomberg) -- Russia delayed a decision on revoking
a license held by BP Plc's Russian unit to develop an
$18 billion Siberian gas field, indicating that negotiations may
be continuing with the Kremlin.

A Natural Resources Ministry commission postponed the
decision for two weeks because of the ``complexity of the
issue,'' Vladimir Bobylev, a spokesman for BP's venture, TNK-BP,
said by telephone from Moscow, where company officials attended
the commission's meeting today.


Read more at Bloomberg Emerging Markets News

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