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aar
noun
At any rate.
synonyms
Exact(60)
AAR would have had trouble raising the money to buy BP out, and anyway the Russian state, keen to expand its influence over the oil business, would have made life impossible for the oligarchs.
And the terms of a deal that would eventually see Rosneft acquire the AAR stake in TNK-BP had been largely hammered out.
Rather than wanting to chase Mr Dudley away again, the Kremlin (and AAR) are keen to draw BP deeper into Russian business and gain more influence over it.
AAR argues that TNK-BP is meant to enjoy an exclusive right to develop any further deals in Russia to which BP might be a party.
But equally Mr Sechin is unlikely to stand in Mr Fridman's way when he demands that BP compensate AAR handsomely.
AAR took legal action and successfully blocked the deal.Exxon, in contrast, is neither swapping shares nor violating any previous agreement.
It has increased production from longstanding AAR projects by up to 40%.
AAR, its Russian partner in TNK-BP, a money-spinning joint venture, objected to the tie-up.
AAR is still suing BP for $10 billion over that farrago.Unwilling to get caught in the cross-fire, two of TNK-BP's directors have since quit, including the former German chancellor Gerhard Schröder.
France's lost decade Ahead of the curve Correction: Timur Kuran ReprintsOn the same day that BP's results were announced, a judge in London granted a request by Alfa-Access-Renova (AAR), the vehicle through which Russian partners hold their stake in TNK-BP, that the Rosneft deal be put on ice until at least February 25th.
BP had not even told AAR that it had been negotiating the deal with Rosneft.
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