BP

BP is preparing to sell its stake in a joint venture with TNK to Rosneft in an effort to rescue the landmark deal with the Russian state oil company, the Wall Street Journal has reported.

With 2010 proving a difficult year for equity income, the first quarter of 2011 has provided some hope for the sector, writes Peter Brunt, analyst at S&P Fund Services.

Focus on small-cap dividend payers delivers for Chelverton.

Oil giant BP has reopened negotiations with Rosneft after failing to meet the original deadline for a $16bn share swap at midnight on Monday.

BP's troubled deal with state-controlled Russian oil company Rosneft has fallen through.

BP is in last minute talks with Russian state oil firm Rosneft in attempt to salvage the proposed $16bn (£9.9bn) share swap deal before the midnight deadline tonight.

Oil major BP has agreed a deal with the US Department of Justice to pay $25m following the Prudhoe Bay oil spill in 2006.

BP's profits fell in the first quarter as the firm continued to suffer the impact of the Gulf of Mexico oil spill, which has so far cost the oil major $40.9bn.

BP has lauched a $40bn (£24bn) lawsuit against Transocean, the owner of the Deepwater Horizon rig that exploded in the Gulf of Mexico last year.

The final cost to BP from the Gulf of Mexico oil spill disaster could reach $60bn (£37bn), according to fresh analysis from ratings agency Moody's.