In its ongoing strategy to diversify geographically and by product, BP's (NYSE:BP) joint venture with Russian billionaires, TNK-BP, is reportedly close to signing a shale gas exploration agreement with Ukraine.
They should sign a memorandum for that purpose soon. TNK-BP has a refining business in Ukraine at this time.
TNK-BP has already signed on to acquire BP's assets held in Venezuela and Vietnam in order to expand operations beyond Russia.
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