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BP Made Faustian Deal With the Kremlin

CNBC

The recent deal between BP and the Russian oil and gas giant Rosneft was a Faustian pact that was forced on the London-listed major by the Kremlin, William Browder, a fund manager with Hermitage Capital, told CNBC Tuesday.

In mid-January, BP agreed a deal with Rosneft which would give it access to offshore exploration in the South Kara Sea and at the time BP CEO Bob Dudley told CNBC the deal offered huge rewards to BP given the access they would get to new fields and reserves.