LONDON (AP) — BP PLC says Russia's state-backed Rosneft has completed a deal to become the British company's partner in German refining joint venture Ruhr Oel GmbH.
BP Chief Executive Bob Dudley said Thursday the close of the deal, originally announced in October, is "further strengthening our relationship with Rosneft."
BP is battling to finalize another deal with Rosneft — a $16 billion share swap to explore the Russian Arctic that has been challenged in the courts by its partners in its other Russian joint venture, TNK-BP.
Rosneft paid $1.6 billion to buy the 50 percent shareholding in Ruhr Oel, which holds stakes in four German refineries and petrochemical plants, from Petroleos de Venezuela S.A.
