BP, Rosneft extend share swap deadline to May 16: BP

LONDON: BP and Russian oil giant Rosneft have agreed to extend until May 16 a deadline to complete a share swap that is key to a landmark Arctic exploration deal, the British group said on Thursday.

"BP announced today that it has agreed with Rosneft to extend the deadline for completing the share swap agreement to 16 May 2011," a statement said.

The deal had been due to expire Thursday, coinciding with BP's annual general meeting in London, where shareholders were set to protest over high boardroom pay in the wake of last year's Gulf of Mexico oil spill disaster.