The Gulf Oil Spill was a disastrous national event for the United States. The English company that was involved was BP. BP Global plc is British Petroleum and is sold as BP or as AMOCO. The future of BP is now once again looking financially strong and there might be cause to suspect its agreement with the Russian company, Rosneft.
The two brands are sold internationally to both wholesale and retail outlets. The price per share of BP currently is $47. The stock is looked upon as a BUY with potential of tripling in the near future. One of the causes for the BUY on BP is the agreement that BP has made with a Russian oil producer, the largest oil producer in all of Russia, Rosneft. The agreement is the first of its kind in the world and is seen as a unique global union of two national concerns working internationally in oil exploration.
Rosneft was given license in 2010 to mine energy resources in 125,000 kilometers of area found in the Russian Arctic continental shelf known as the South Kara Sea. The area is the same size as the area in the United Kingdom’s North Sea. The agreement will give both countries access to the other’s technology in Arctic exploration, a key area of land that holds enormous energy potential.
In actual stock numbers, BP will give Rosneft 5% of its voting shares of stock and Rosneft will give BP 9.5% of its stocks. BP will help to build a center in Russia to conduct Arctic exploration technologies to safely mine hydrocarbons found on the Arctic shelf.
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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