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| Name | Symbol | Market | Type |
|---|---|---|---|
| BP Plc | NYSE:BP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.45 | 1.18% | 38.67 | 38.84 | 38.44 | 38.50 | 10,021,188 | 23:10:36 |
From May 2019 to May 2024
By Ian Walker
LONDON--BP PLC (BP.LN) has signed a preliminary agreement to supply natural gas from Rosneft Oil Co. (ROSN.MZ) within Europe, plus a deal to jointly implement gas projects in Russia, it said Friday.
Under a memorandum of understanding, BP's wholly-owned subsidiary BP Gas Marketing Ltd. will enter into a long-term sale and purchase agreement with Rosneft to deliver additional Russian gas supplies to Europe, starting from 2019.
BP Russia President David Campbell said shifting to gas was a pillar of his company's strategy.
"Gas is a growing proportion of BP's portfolio and by the middle of the next decade we expect around 60% of our production to be gas, compared with around 50% Friday," he said.
BP is Rosneft's second-biggest shareholder after the Russian government, with a near-20% stake in the Russian oil major.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
June 02, 2017 07:12 ET (11:12 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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