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This excerpt taken from the BP 20-F filed Jun 13, 2006. Note 42 — Joint ventures and associated undertakings The significant joint ventures and associated undertakings of the BP Group at December 31, 2004 are shown in Note 45. The principal joint venture is the TNK-BP joint venture. Summarized financial information for the Group's share of joint ventures is shown below.
The joint venture TNK-BP was created on August 29, 2003. See Note 19 for further information. TNK-BP in which BP holds a 50% interest, is an integrated oil company operating; inter alia, in Russia. The preliminary fair values attributed to the assets and liabilities of TNK-BP in 2003 have been revised in 2004 as permitted by Financial Reporting Standard No. 7 'Fair Values in Acquisition Accounting'. The results for TNK-BP for 2004 have been estimated. Any difference between the estimated and actual results for this period will be included in the results for 2005. The adjustment included in 2004 in respect of 2003 was a charge of $36 million. BP Solvay Polyethylene Europe and BP Solvay Polyethylene North America became subsidiary undertakings with effect from November 2, 2004. Transactions between the significant joint ventures and associated undertakings and the Group are summarized below. F - 82 This excerpt taken from the BP 20-F filed Jun 30, 2005. Note 42 — Joint ventures and associated undertakings The significant joint ventures and associated undertakings of the BP Group at December 31, 2004 are shown in Note 45. The principal joint venture is the TNK-BP joint venture. Summarized financial information for the Group's share of joint ventures is shown below.
The joint venture TNK-BP was created on August 29, 2003. See Note 19 for further information. TNK-BP in which BP holds a 50% interest, is an integrated oil company operating; inter alia, in Russia. The preliminary fair values attributed to the assets and liabilities of TNK-BP in 2003 have been revised in 2004 as permitted by Financial Reporting Standard No. 7 'Fair Values in Acquisition Accounting'. The results for TNK-BP for 2004 have been estimated. Any difference between the estimated and actual results for this period will be included in the results for 2005. The adjustment included in 2004 in respect of 2003 was a charge of $36 million. BP Solvay Polyethylene Europe and BP Solvay Polyethylene North America became subsidiary undertakings with effect from November 2, 2004. Transactions between the significant joint ventures and associated undertakings and the Group are summarized below. F - 83 | EXCERPTS ON THIS PAGE:
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