BP Poised To Take 10% Of Russia's Rosneft

By Mark Kleinman, City Editor

BP is poised to acquire a stake of more than 10% in Rosneft, the Russian state-owned oil giant, as part of a restructuring of its interests in the country.

I understand that BP expects to receive a cash-and-shares offer from Rosneft ahead of a 9am deadline tomorrow that would be valued at roughly $28bn (£17.3bn), the same price attributed to the 50% stake in TNK-BP held by a group of Russia-based businessmen.

Igor Sechin, the Rosneft chief executive, is due to meet Bob Dudley, his BP counterpart, at the British company's central London headquarters on Wednesday night to negotiate a deal. A team of BP executives is also basing itself at the City offices of Linklaters, its legal adviser on the proposed deal.

BP executives will discuss offers for its shareholding in the joint venture with their financial advisers tomorrow, with BP's board expected to decide on a preferred bidder when it meets on Friday afternoon.

I revealed earlier today that AAR, the quartet of oligarchs' holding company for their TNK-BP stake, had agreed an outline deal with Rosneft for the state-owned energy company to buy their stake for $28bn. The agreement was struck in Moscow on Tuesday night.

The exact size of BP's stake in Rosneft is not yet clear and will depend on whether Rosneft splits the $28bn price-tag equally between cash and shares.

A $14bn (£8.6bn) cash windfall would be welcomed by BP, which is continuing to negotiate over the final financial toll of the Gulf of Mexico oil spill with US authorities.

Senior BP executives believe that a stake of between 10% and 15% in Rosneft will give them prized access to alliances with what would become the world's largest publicly-listed oil company by virtue of its takeover of TNK-BP.

The deal would differ from a share swap agreed between BP and Rosneft in January 2011 in that Rosneft will not acquire a shareholding in BP as part of any agreement.

That transaction was scuppered by a legal battle with AAR. The oligarchs are considered likely to drop any remaining legal claims against BP if they complete a deal to sell their shareholding to Rosneft.

Major BP shareholders broadly welcomed news of the proposed shake-up of BP's Russian interests, with one saying it represented "a great price for Bob Dudley".

BP and AAR declined to comment.

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Blatter 'Saddened' At Serbia Racism Row

Fifa president Sepp Blatter has spoken out about racism in football after allegations of racist chanting during an England U21 game.

The 76-year-old avoided commenting directly on claims of racist chanting directed at English players during the game in Serbia on Tuesday night.

But he tweeted twice and called for discrimination to be "eradicated".

He wrote: "Saddened every time I hear about racist incidents in football.

"We must keep fighting to eradicate discrimination from our sport. Kick racism out of football."

It comes after the Serbian FA denied allegations of racist chanting during the playoff game, which England won 1-0 to go through to the European Championship finals.

Fifa president Sepp Blatter said he was "saddened" by racism in football

The Serbian FA also claimed England player Danny Rose behaved in a "vulgar" manner towards its fans. Rose was sent off after the final whistle.

In a statement on its website, the Serbian FA said: "(The) FA of Serbia absolutely refuses (sic) and denies that there were any occurrences of racism before and during the match at the stadium in Krusevac.

"Making connection between the seen incident - a fight between members of the two teams - and racism has absolutely no ground and we consider it to be a total malevolence.

"Unfortunately, after the fourth minute of the additional time and the victory goal scored by the guest team, unpleasant scenes were seen on the pitch.

"And while most of the English team players celebrated the score, their player number three, Danny Rose, behaved in inappropriate, unsportsmanlike and vulgar manner towards the supporters on the stands at the stadium in Krusevac, and for that he was shown a red card."

The Serbian FA said preliminary reports from the match officials made no mention of racism and added: "We expect that the human and sports culture of our football friends from England will win over the spread of misinformation."

Rose was controversially sent off by the referee after responding angrily to the abuse and kicking a ball into the crowd.

The English FA and Prime Minister David Cameron have called for UEFA to investigate allegations that England players were subjected to racist chants and pelted with seats, coins and stones during their European Championship play-off.

England's players were incensed by the racist abuse

In amateur footage of the scuffles that broke out following England's winning goal, monkey chants are clearly audible.

Rose told Sky Sports News: "I just expressed my emotions as soon as we scored.

"Next thing I turned round and all the Serbian players have surrounded me, pushing me, and then a brawl broke out.

"I remember getting slapped twice and then I got ushered away. That's when I kicked the ball and the referee's sent me off.

"As I was walking off there was monkey chanting - but the monkey chanting started long before I got sent off."

He added: "They have to be banned."

Downing Street said Prime Minister David Cameron was "appalled" by the scenes at the end of the match and wants Uefa to impose tough sanctions if racism is proved.

Sports minister Hugh Robertson has also written to Uefa president Michel Platini urging tough action following the "disgraceful scenes".

Captain Jordan Henderson praised his players for their reaction to the alleged racist abuse and called on Uefa to take the appropriate action.

The Football Association reported "a number of incidents of racism" to Uefa after ugly scenes marred a 1-0 win for Stuart Pearce's team in the second leg of their play-off.

FA general secretary Alex Horne said: "We call on UEFA to take the strongest possible action against the Serbian FA, their supporters and anyone found guilty of being involved in the numerous instances of violence and abuse."

Liverpool midfielder Henderson said on www.thefa.com: "There was a lot of racist abuse out there from the stands and a lot going on after the game, which is hard to take for the players."

The brawl broke out when supporters invaded the field moments after Connor Wickham's stoppage-time goal secured a 2-0 aggregate success and a place at next year's finals in Israel.

Henderson added: "The players coped with the abuse really well. It's not nice. They kept their heads and were professional.

"I thought our players were brilliant and conducted themselves very well. The players completely condemn what happened.

"There were also stones, coins and seats getting thrown at us. I didn't understand why Danny Rose was sent off at the end - I didn't see he did anything wrong, other than get abused."

A statement from the FA read: "The FA condemns both the scenes of racism and the confrontation at the final whistle during which time our players and staff were under extreme provocation.

"The FA has reported a number of incidents of racism to Uefa following the fixture.

"These were seemingly aimed at a number of black England players by the crowd. The matter is now with Uefa."

England manager Stuart Pearce said Serbia's technical director Savo Milosevic had visited the England dressing room to apologise.

"I never like to see any football matches end like that," Pearce told ESPN.

"I think there were one or two racist incidents that came on from the crowd. It's in (Uefa's) hands now.

"It's very sad, to be fair, but we're united as a team. I'm very proud of the reaction of our players."

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Energy Bills: Cameron Promises New Laws

Energy firms will be forced to give customers the cheapest available tariff under new laws, David Cameron has announced.

Amid mounting concern about the soaring cost of power, the Prime Minister vowed to legislate to tackle the often-confusing array of prices.

"I can announce that we will be legislating so that energy companies have to give the lowest tariff to their customers," he told MPs during Prime Minister's Questions.

His intervention follows a string of above-inflation price hikes by major energy companies in recent days.

Ministers have previously encouraged customers to shop around to make sure they have the best deal.

They have also announced moves to require energy companies to inform their customers if they could be on cheaper tariffs.

But the forthcoming Energy Bill will go further by introducing a requirement for companies to give people the best tariff for their circumstances.

The announcement came after consumer body Which? called for an urgent independent review into the rising cost of household energy bills.

In a letter to the Prime Minister, Which? executive director Richard Lloyd said the energy market was "broken".

A review was needed to look at rising prices and whether competition between suppliers could be made to work more effectively to help consumers, he insisted.

With the average bill up 13% since a Government energy summit a year ago, "it is no wonder consumers tell us that energy prices are one of their top financial concerns," he said.

He claimed there was little evidence that the Government was living up to its promise to make energy companies more competitive, with 75% of consumers on the most expensive tariff, and the numbers switching suppliers continuing to decline.

Mr Lloyd said people were questioning whether they were being fairly charged for gas and electricity, as companies blamed wholesale price rises and the cost of implementing environmental and social policies for bill increases.

He added: "The time for action is now. Warm words alone are not enough to keep consumers from the cold this winter."

A spokesman for the Department of Energy and Climate Change said: "Households facing rising energy bills this winter aren't going to be helped by more inquiries or investigations that could take years to complete and implement.

"We know what the problems are, we want to get on with tackling them now. We're focusing on action, not more words.

"The fact is reforms by Government and Ofgem, including electricity market reform through the forthcoming Energy Bill and Ofgem's ongoing Retail Market Review, offer the quickest way to boost consumer confidence in the energy market."

Shadow energy secretary Caroline Flint said: "Which? are right to say that Britain's energy market is not working in the public interest.

"For too long energy companies have been able to get away with blaming wholesale prices when bills go up, but failing to pass on savings when wholesale prices fall."

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Gatwick Airport Planning Second Runway

Gatwick Airport bosses have started to draw up detailed options for a new runway which could help resolve the UK's air capacity crisis.

But Gatwick said it would honour a 1979 legal agreement that states no runway can be built at the West Sussex airport before 2019.

The options, to be submitted to a Government-appointed aviation commission, will assess the environmental and economic impacts of a new runway.

The chief executive of Gatwick, which serves 197 destinations and handles around 34 million passengers a year, said a new runway would benefit passengers.

"I believe a new runway at Gatwick could be affordable, practical and give passengers a greater choice of routes to key markets," Stewart Wingate said.

"We have the space, capability and access to financial resources."

London's busiest airport, Heathrow, is operating close to full capacity after the Government blocked a third runway because of the resulting increase in planes flying over the city.

Mr Wingate said a new runway at Gatwick had "clear practical advantages" over expansion at Heathrow.

"When compared with a third runway at Heathrow, we would have a significantly lower environmental impact whilst adding significantly more capacity," he said.

He added that it would also be preferable to other London alternatives.

"Stansted is half empty today, we already have much better surface transport links and feel our business case will be much stronger," he said.

"As for the Estuary airport concepts, there are major questions on affordability, environmental issues and whether they are deliverable."

But the Gatwick Area Conservation Campaign has always been opposed to a second runway at the airport on environmental grounds.

"We have had massive support from across Surrey, Sussex and west Kent," Gatwick Area Conservation Campaign's chairman, Brendon Sewill, said following the announcement.

"We have been supported by all the local MPs and all the county, district and parish councils in a wide area.

"If necessary, we will resume the battle."

Gatwick has safeguarded the land that would be required for a new runway since it was bought by Global Infrastructure Partners in 2009.

It estimates that for the rest of this decade, London's airports will be relying on their existing physical capacity.

As such, its submission to the commission will evaluate how the capacity of its existing runway can be maximised.

It will also argue that a second runway would help ensure that London's airports provide the South East and the rest of UK with the connectivity needed in the future.

The commission, led by the former head of the Financial Services Authority Sir Howard Davies, will make its full report into the South East's airport capacity in 2015.

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Savile's Aide 'Lost For Words' Over Claims

A woman who worked for the late Jimmy Savile for more than 30 years has said she is "lost for words" at the accusations against him.

Janet Cope, 70, said initially she could not believe what was being said about the former TV presenter - but now believes even she may have been duped.

In an interview with the Daily Mirror, Ms Cope admitted her former employer believed he was "untouchable" and was hugely controlling.

"Never risk being caught out," he explained. "Always ensure that you're in total control of any situation."

Ms Cope, who was Savile's PA for 32 years until she was sacked by him in 2001, described him as "eccentric and manipulative".

"He was always photographed with what he called dolly birds because he was terrified of growing old or being seen as old," the former PA went on.

Jimmy Savile at his prime as a Top Of The Pops presenter

"Image was vital to him. He was like Peter Pan, forever surrounding himself with youngsters. It was his elixir.

"On the face of it Jim led a celibate, nomadic and simple life which may have disguised a more sordid double life. I don't know, but he was clever enough to believe he'd get away with it and, if he did, he fooled me and many others.

Ms Cope - who learned she was losing her job when Savile abruptly said publicly at a meeting with Stoke Mandeville doctors "She's out" - still has trouble believing the TV star could have done the things he was accused of.

"He was a very, very clever man and if he could keep something like that covered up, he was even more clever than I gave him credit for.

"And it bothers me now because we rubbed along together for so many years, getting things done together."

Ms Cope did recall his terrible temper, suggesting he had used it to frighten and control everyone from hospital staff to fundraisers. Answering him back, she explained, would have been "more than my life was worth".

"I was frightened to death of him and I wasn't the only one. He loved the power he had over people.

"He didn't care if he upset people. Jim had no feeling, no emotions at all. He was a little distressed when his mother died, but that was the only time I ever saw any emotion. Nothing could hurt him."

A former barrister has been brought in to oversee the investigations into Savile at Stoke Mandeville, Broadmoor and Leeds General Infirmary.

Kate Lampard will provide "independent oversight" of the inquiries, the Prime Minister's official spokesman said on Wednesday.

The former deputy chair of the Financial Ombudsman Service was appointed by the Department of Health to keep a check on the three investigations.

A spokesman for the Department of Health said: "The Health Secretary has appointed Kate Lampard - a former practising barrister and former deputy chair of the Financial Ombudsman Service - to oversee the Department of Health's, and three NHS Trusts' input into the ongoing inquiries relating to Jimmy Savile's involvement with the NHS.

"She will provide oversight of the Stoke Mandeville, Leeds General Infirmary and Broadmoor inquiries as well as the Department of Health's inquiries into the appointment and role Savile held at Broadmoor Hospital.

"All relevant information from these inquiries will be passed to the police."

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Andrew Mitchell: Miliband Says 'He's Toast'

Labour leader Ed Miliband has mocked Tory Chief Whip Andrew Mitchell during Prime Minister's Questions and declared "he's toast".

Prime Minister David Cameron was forced to defend the senior Tory yet again as his row with a policeman dominated the first PMQs session for more than a month.

Mr Miliband sought to use the affair to show that the Tories are a party of the privileged minority who want to live by different rules to the rest of the country.

"If a yob in a city centre on a Saturday night abused a police officer, ranting and raving, the chances are they would be arrested and placed in the back of a police car and rightly so," he said.

"The Prime Minister would be the first in the queue to say it was right. But while it's a night in the cell for the yobs, it's a night in the Carlton Club for the Chief Whip. Isn't that the clearest case there could be of total double standards?"

Mr Cameron retorted: "He wants to discuss these issues because he has nothing to say about the country."

But the Labour leader continued: "They say that I practise class war and they go round calling people plebs.

"It is good to see the Cabinet supporting him in public but what are they saying in private: 'He's completely undermined, his position is untenable.'

"In other words, he's toast. That is the reality. While everybody else loses their jobs, the Chief Whip keeps his. If you're a millionaire you get a tax cut, if you're anyone else you get a tax rise."

Labour leader Ed Miliband was on the attack

The Prime Minister admitted yet again that his Chief Whip had been wrong but insisted his apology had been accepted by police chiefs and that it was time to move on.

"This Government will get on with the big issues of helping Britain compete and succeed in the world," he told MPs.

Mr Mitchell looked uncomfortable as he watched the clash from the frontbenches. At one point, he appeared to deny having sworn at police.

He shook his head, apparently mouthing "I didn't, I didn't" as Mr Miliband said that people who swear at police should expect to be arrested.

This sparked more raised eyebrows, with Tory MP Michael Fabricant claiming the Chief Whip had reignited the row himself after previously admitting he had sworn.

Sky's Deputy Political Editor Joey Jones says there is now an increasing push to oust the Chief Whip over the affair.

"The constant and agonising undercurrent for the Conservative Party at the moment is about the position of the Chief Whip. It is becoming a huge preoccupation for MPs and ministers," he said.

"Utterly authoritative sources tell me that senior Conservative ministers are beyond despair at the situation, which they can see just dragging on and becoming a huge distraction."

David Cameron insisted it was time to move on

Mr Mitchell faces another serious test later when the 1922 Committee meets and party members are given a chance to state their views.

He will not attend the session but it is believed that he will meet with the committee's executive afterwards where he will be made aware of the mood.

The senior Tory has been clinging to his job, which he only took on in the recent reshuffle, since it emerged he had rowed with a policeman on September 19.

He ranted at the officer at the Downing Street gates when he was told he could not cycle out of the main entrance.

Mr Mitchell has denied calling the police "plebs" during the argument but his account conflicts with the official police record.

He failed to quell the row with a lacklustre apology live on Sky News and then stayed away from the Tory conference last week to avoid being a "distraction".

The Opposition has already tabled a motion calling for Mr Mitchell to be docked £1,000 from his salary - roughly the same amount he would have been fined for swearing at an officer.

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April Cops: 'We'll Search Until Christmas'

The search for missing April Jones could continue until Christmas and beyond, police have said.

Major search efforts to find the five-year-old schoolgirl are ongoing, and Dyfed Powys Police say the hunt may not end for months.

"We said goodbye to 150 officers this morning and they've been replaced by another 150 specialists," Superintendent Ian John said, speaking from April's home town of Machynlleth.

"Numbers may fluctuate a bit on a daily basis, but whilst we still have viable lines of inquiry, we will continue to search.

"We could still be here at Christmas or the new year, we could be finished in two weeks."

He added: "The numbers involved in searching are always under review.

"Hopefully we will find April soon. We are not going anywhere until we have done our job.

"We are here for the long-term if we need to be."

He said that specialist searches from 16 separate police forces were helping in the ongoing hunt for April.

They were backed up by fire service urban area search and rescue teams, hazardous area search teams and teams from the ambulance service.

Mountain rescue teams were brought back in over the weekend as different terrain was encountered and closely searched.

Specialists capable of working in confined areas such as pot holes, caves ana mine shafts are used when needed.

Hazards for which the experts need to be prepared include encountering gases such as methane which have built up.

While a myriad of tunnels and shafts are explored underground, commercial volunteers are helping with aerial searches.

Private planes full of technology otherwise unavailable to the police have been helping to spot promising areas to search.

Sonar technology and specialist equipment which can pinpoint heat signatures from the air are being used. The data it produces is closely examined and used to target specific areas to search.

April was last seen on October 1 on the Bryn-y-Gog estate where she lived.

The youngster, who suffers from cerebral palsy, was out late on her bike as a treat for getting a good school report earlier that day.

Mark Bridger, 46, from Machynlleth, has been charged with April's murder and abduction.

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Nike Cancels Lance Armstrong Contract

Nike has terminated its contract with former champion cyclist Lance Armstrong as he prepares to step down as chairman of his Livestrong cancer-fighting charity.

Last week the US Anti-Doping Agency (Usada) released a massive report detailing allegations of widespread performance-enhancing drug use by Armstrong.

The document included testimony from 11 former teammates. Usada has ordered for 14 years of Armstrong's career results to be erased, including his seven Tour de France titles.

In a statement the sportswear firm said: "Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade, it is with great sadness that we have terminated our contract with him.

"Nike does not condone the use of illegal performance enhancing drugs in any manner.

"Nike plans to continue support of the Livestrong initiatives created to unite, inspire and empower people affected by cancer. "

The announcement came minutes after Armstrong quit as chairman of his Livestrong cancer-fighting charity.

He said: "I have had the great honour of serving as this foundation's chairman for the last five years and its mission and success are my top priorities.

"Today therefore, to spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship."

The Lance Armstrong Foundation, commonly known as Livestrong, was founded in 1997 and has raised roughly $500m (£309m) to support cancer patients.

The group has scheduled its 15th anniversary celebration for this weekend. Armstrong will stay on the charity's board.

The cancer survivor strongly denies doping and says he stopped fighting Usada because its hearing process was unfair.

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Blind Man Tasered As Cops Mistake Stick For Sword

A "terrified" blind man was hit with a 50,000 volt Taser gun after police mistook his white stick for a samurai sword.

Stroke victim Colin Farmer, 61, collapsed to the ground in shock after he was hit in the back with the gun while walking down the street in Chorley, Lancashire.

Police had received reports of a man walking through the town armed with the deadly martial arts weapon and raced to the scene to hunt down the offender.

Meanwhile Mr Farmer, who has suffered two strokes and walks at a "snail's pace", was on his way to the pub to meet friends for a drink and was unaware of the reports.

He had no idea a police officer had mistaken his thin white stick for a weapon and ordered him to stop before pulling the trigger on the Taser gun.

Mr Farmer cried out, "I'm blind! I'm blind!" while collapsed on the floor but was still handcuffed by the officer from Lancashire Police.

"The whole thing was like being trapped in a nightmare," he told the Chorley Guardian.

Mr Farmer said he heard shouting on the street but did not know what it was about and thought he was about to be "attacked by some hooligans".

He was then struck by the Taser and fell to the ground, dropping his white stick on the floor before a policeman handcuffed him.

He was taken to Chorley Hospital for treatment and was later released following the incident at about 5.45pm last Friday.

Chief Superintendent Stuart Williams, from Lancashire Police, said: "We received a number of reports that a man was walking through Chorley armed with a samurai sword and patrols were sent to look for the man.

"One of the officers believed he had located the offender. Despite asking the man to stop, he failed to do so and the officer discharged his Taser.

"It then became apparent this man was not the person we were looking for and officers attended to him straight away.

"He was taken Chorley Hospital by officers who stayed while he was checked over by medics. They then took him to meet his friends in Chorley at his request.

"Lancashire Constabulary deeply regrets what has happened. We have clearly put this man through a traumatic experience and we are extremely sorry.

"We have launched an urgent investigation to understand what lessons can be learned and the matter has also been referred to the Independent Police Complaints Commission."

Mr Farmer is reportedly considering legal action against the force.

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No Verdict In Mark Duggan Handgun Case

A jury has failed to reach a verdict in the case of a man accused of supplying a gun to Mark Duggan, whose fatal shooting by police sparked last year's August riots.

Kevin Hutchinson-Foster, 30, was charged with passing the gun to Mr Duggan just 15 minutes before he was shot dead by police marksmen on August 4 last year.

But a jury of seven men and five women at Snaresbrook Crown Court was unable to reach a verdict after nearly 21 hours of deliberations.

Judge David Radford had allowed jurors to reach a majority verdict of 10-2 or 11-1, but he discharged them after they were unable to reach a decision.

A re-trial will be held at a date to be set and an administrative hearing will take place on November 2.

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