bob dudley has been talking to beccy meehan. she jones us onset. >> rush back from the interview. >> literally just brushing my hair, trying to get myself organized. i have literally just walked back in and bob dudley was pleased with the shares. the stock up by 3.5% or so and he said about time. so he was pretty happy that the shares were moving higher. i asked about several elements of the story, as well, including of course the fact that they have increased the dividend. let's listen to what he had to say about that dividend policy and if we should get used to these high dividends. >> we're working to get it closed through the normal processes on a steady pace. rosneff is a great company and we look forward to that relationship. obviously the relationship with btp wasn't efficient. and if this is good. >> how does the timing look right now? you say you're progressing well. >> we have a 90 day exclusivity and then 30 day regulatory approval process followed by another one. so i think the earliest could be sometime in the first

s chief executive in london ahead of the official offer made by the russians and bob dudley reportedly addressed bibi's board of directors where he spoke about the advantages that would be brought to the british oil giant if they accepted the ross net deal and according to reports tonight it looks as though the board of directors unanimously agreed with bob dudley and approved this very important deal in exchange for selling half of russia's third largest company b.p. is going to receive around seventeen billion dollars in cash from ross nafta but they're also going to get an all important thirteen percent stake in ross next itself that's going to make b.p. the biggest shareholder in ross after the russian state itself for b.p. it's an extremely attractive offer because it gives them exploration rights in the russian arctic and for a company that we know just in june said wanted to pull out of russia because of a deal that had gone sour with their joint venture and their russian partners now to have the chance to have a stake in russia's largest oil company and to have these all import

bob dudley he's going to recommend that b.p. accept roughnecks bed to take over that hoff of t n k b p now ross neff have reportedly offered over twenty six billion dollars to b.p. for that half of that russian joint venture as well as a stake in the company so at the same time we know that ross neff have also negotiated to buy out b.p.'s russian partners who are in the all the halls of the t n k b p joint venture it's the billionaire consortium a are now what all this means is that ross nast could end up swallowing russia's already largest oil company t n k b.p. that by taking it over. b.p. russian after would become the world's largest listed oil producer making over four and a half million barrels of oil a day so igor sechin his head of ross nast has been in london holding talks with bob dudley who's the head of b.p. and that was ahead of the point when b.p. received a formal offer from the russians. so today we know that bob dudley is going to be talking to the b.p. board and he's going to be talking very positively about th

bob dudley and that was ahead of a formal offer that the russians made c.b.p. and we also know that today bob dudley is going to be speaking very positively about what this deal could bring to b.p. as a company and he's going to be recommending to his board of directors that they accept the offer. and i will facts on the figures on the bit later in our business bulletin that will be featuring peter all of. just how a rose now it's going to be able to afford this multibillion dollar deal join me in a few moments time and i'll be having a look at one of the ways in which they're looking to raise a bit extra capital. european leaders have agreed on a deal that would bring centralised banking supervision to the continent of the controlling body will be gradually phased in over the course of two years regulating some six thousand banks budgetary union and aid to banks bypassing sophron control also with the cards at the summit. mogwai continue protests in southern europe tens of thousands of greeks descended on athens as a nationwide strike but on the way clashing w

and we also know that today bob dudley is going to be speaking very positively about what this deal could bring to b.p. as a company and he's going to be recommending to his board of directors that they accept the offer. and figure on the business bulletin and while the key discussion in london is well under way police have detained a top manager from b.p. on suspicion of fraud. well it's unlikely that the questioning obey told pti in k b p the corruption allegations will have any real effect told rosettes negotiations for a multi billion dollar takeover of the company i'll bring you all of the ins and outs of that ongoing deal little later this hour. for the european leaders have agreed on a deal that would bring centralized banking supervision to the continent the controlling body will be gradually phased in over the course of two years alternately regulating some six thousand banks or budgetary union banks bypassing sovereign control also on the cards at the summit. to new and protests in southern europe tens of thousands of greeks to stay. things as a nationwide strike got underway. w

russian state and giant ross now it's equal search in the rust if chief executive is jus to meet bob dudley his b.p. counterpart at the british company is headquarters in london tonight to negotiate a deal now by our ross staff have reportedly signed an outline agreement what twenty eight billion dollars last night. now the claim it is not final and it could be revised apparently now alice a saying that if more staff was to buy both hall of the tank a beef pay as we are hearing it could become the biggest oil producer in the world. is known as b.p. will come for the no longer have interest in this joint venture i think next year for rules and there will be two bio to the p.d.p. completely rules new being the company we have a major shill for in the face of the is the key and enjoy your loans including from largest banks like to burbank so i don't think the experiencing it just will sort. so as we're hearing they are meeting right now so i'll give you the latest update let's check out the markets in the meantime because wall street is posting a mixed performance right now that's after disapp

s chief executive bob dudley reportedly addressed to be board of directors where he spoke about the advantages that would be brought to the british oil giant if they accepted the roughnecks deal the deal that was reportedly hammered out now in exchange for selling half of russia's third largest company b.p. is going to receive around seventeen billion dollars in cash for us next but they're also going to get an all important thirteen percent stake in ross next itself now that's going to make b.p. the biggest shareholder in rosneft after the russian state itself b.p. it's an extremely attractive offer because it gives them exploration rights in the russian arctic for ross nastia well they could be well on their way to being the largest investor owned oil company listed in the world and they could be producing over four and a half million barrels of oil a day. british prime minister david cameron is about to be welcomed home from brussels by months of crowns but likely to be cheering him on will bring you along the u.k. which is not discontent later on in the park plus. i mean if mitt romney win

at one point bob dudley physically intimidating and so on and so forth. so that was brouound to end in divorce in some way. rosneff does employ bp potentially massive advantage over the next 20 to 30 years in terms of getting access to russian resources. and for companies like bp and it peers, access to resources so they're able to grow production is the holy grail. that is somehow shareholder value will be created. if and when it does go through, and it looks highly likely that it will, it's a game changer for bp, but it does carry huge political risks. and that's very difficult to speculate from this point. >> can you quantify? >> rosneff for all intents and purposes is crumbling oil ink and the head of rosneff is clearly very close to mr. putin. and we have seen in past behavior from mr. putin towards the energy sector that attitudes can change, people can fall out, there can be abrupt changes in attitude towards foreign investors. and bp potentially and we don't want to overrate it might find itself in a few years side dealing with different people wi