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Arbitral panel defers final ruling

Release date: 8 April 2011

BP announced today the arbitral tribunal has ruled that the interim injunction prohibiting closing of the share swap transaction with Rosneft will remain in place until further notice. However BP is now able to discuss the possibility of an extension of the April 14 deadline under which the share swap agreement will terminate.

 

The Arctic opportunity remains under injunction pending further hearings.

 

The share swap and the Arctic opportunity announced January 14 remain subject to the final decision of the arbitral tribunal.

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BP Press Office, London: +44 (0)20 7496 4076, bppress@bp.com