"LONDON -- BP's chief executive says he is confident that the oil company's latest deal in Russia won't hurt its ties with the United States.

BP last week seal a deal with Russian oil company Rosneft to explore for oil in the Arctic. BP is taking a 9 percent stake in Rosneft, which in turn is getting 5 percent of BP shares.

A member of the U.S. Congress warned the deal could threaten national security and referred to BP as 'Bolshoi oil.'"

The Associated Press had the story January 19, 2011.
[2]
SEE ALSO:

"Critics Say BP Deal ‘Legitimizes’ Kremlin Theft" (Radio Free Europe) [3]

"BP-Rosneft Deal a Challenge for Canada In Arctic" (Toronto Globe and Mail) [4]

"BP Wins Coveted Russian Prize, to Fury of Rivals and Opponents" (Wall St. Journal)
[5]
"UK Says BP-Rosneft Tie Commercial, Not Political" (Reuters) [6]

"Oil-Rich Norway Welcomes BP-Rosneft Arctic Deal" (Reuters) [7]

"Rosneft Sees More Arctic Technology Tie-Ups in Russia" (Reuters) [8]