BP Plc will pay OAO Rosneft $750 million for a stake in an East Siberian oil producer, following Royal Dutch Shell Plc’s plans to expand a natural gas export project in Russia. BP will take a 20 percent stake in Taas-Yuriakh Neftegazodobycha LLC in Russia’s Far East, according to statements from Rosneft and BP. The companies will also jointly explore areas in Siberia and, if successful, form a venture with Rosneft holding 51 percent. Holdings in their German refineries will be reorganized as well, the partners said. Europe’s two biggest oil companies are looking for increased access to Russia’s vast energy reserves and their proximity to the markets of China and Japan even as the world’s second-biggest oil and gas producing nation seeks to maintain sales to Europe in the face of U.S.-led sanctions. BP reset its Russia strategy two years ago when it swapped its half in TNK-BP […]