BP Invests Billions in Russia

World | February 11, 2003, Tuesday // 00:00

The British energy giant BP is investing billions of pounds in a new joint venture in Russia. The company said it was joining with the Alfa Group and Access-Renova (AAR) to create Russia's third biggest oil and gas business. For its 50% stake in the new company BP will pay a total of $6.75bn (Ј4.17bn) in cash and shares over the next four years.

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