BP begins to see results from Rosneft stake, will get diesel for $1.9B

|About: BP p.l.c. (BP)|By:, SA News Editor

Rosneft says it will sell up to 1.8M metric tons of ultra low-sulphur diesel to BP from the Baltic Sea port of Primorsk for up to $1.9B (£1.1B) plus 400K metric tons of crude oil from the Pacific port of Kozmino to BP Singapore for up to $345M.

BP became Rosneft's second-largest shareholder, behind only the Kremlin, after Rosneft took over BP's Russian venture TNK-BP for $55B in March, but participation in Rosneft's ownership has been slow to translate into cooperation in upstream projects.