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Bloomberg: Russia Postpones Decision on BP Unit’s License, Interfax Says

By Torrey Clark

June 1 (Bloomberg) — Russian officials postponed a decision on whether to revoke the license held by BP Plc’s Russian venture to a Siberian field with enough natural gas to supply Asia for five years, Interfax said.

A Natural Resources Ministry commission delayed making a decision on the license for the Kovykta field in Siberia for two weeks because of the “complexity of the issue,” Interfax cited an unidentified person with knowledge of the decision as saying in Moscow today.

Natalya Ivanova, a spokeswoman for the ministry’s subsoil agency, which oversees the commission, said she couldn’t immediately comment. Vladimir Bobylev, a spokesman for TNK-BP, BP’s Russian venture, couldn’t immediately confirm or deny the report. Andrei Dovgan, a spokesman for OAO Rusia Petroleum, a unit of TNK-BP, couldn’t immediately be reached for comment. BP’s press department in London wasn’t immediately available.

(Interfax 6-1) To contact the reporter on this story: Torrey Clark in Moscow at [email protected] .

Last Updated: June 1, 2007 08:11 EDT

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