OK, those may be harsh words. After all, BP (NYSE: BP) still owns half of TNK-BP, Russia's third-largest oil company, but the Financial Times is reporting that OAO Rosneft has not extended a deadline for the two companies to finalize their $16 billion share swap announced earlier this year
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Assuming Rosneft, Russia's largest oil producer, doesn't want to proceed with talks with BP and TNK-BP (and who could blame Rosneft if it doesn't want to?), BP's loss could be a major gain for one of its rivals, pouring more salt in the British oil giant's wounds.