BP to receive rights of “blocking” shareholder in Rosneft

On June 20, during the meeting, Rosneft’s shareholders will consider amendments to company charter. Two men, close to the company’s Board of Directors, - a representative of Rosneft and an employee of the Economic Development Ministry’s press centre told this. According to the information, which was presented with draft of directives for the agenda approval, amendments to the charter are stipulated by the sale contract of Rosneft’s shares to British BP. In March, BP sold 50% of BP-TNK to Rosneft and increased its stake in state company to 19.85%. In case if the changes are approved at the annual meeting, BP will receive "blocking" rights. This issue is agreed with the Federal Property Management Agency, extending rights for BP is «one of the deal’s conditions» with the British, a federal official confirmed.