BP, which lost its first deal to drill for oil in Russia's Arctic to Exxon (XOM), tried to...

|About: BP p.l.c. (BP)|By:, SA News Editor
BP, which lost its first deal to drill for oil in Russia's Arctic to Exxon (XOM), tried to negotiate a new deal with Rosneft and was again beaten to the punch by XOM in winning access to the Arctic Laptev Sea fields, Reuters reports. BP thus has been left a bystander in the rush for Arctic deals, and all but five of 30 Arctic license areas held by Rosneft have been parceled out in ventures with other firms.