British energy company BP said Tuesday it confirmed a pledge to invest as much as $300 million in developing reserves in Russia alongside oil company Rosneft. BP issued a statement confirming a joint venture with Rosneft to carry out exploration work in two inland basins in Russia. Starting in late 2016, both sides working through the Yermak Neftegaz joint venture will carry out preliminary seismic surveys to get a better understanding of the resource potential there. “BP has committed to provide up to $300 million in two phases as its contribution to the cost of the joint venture’s activities at the exploration stage,” the British company said in a statement. Both companies have a turbulent past. BP CEO Bob Dudley […]