Fresh row in TNK-BP saga
THE acrimony between BP and its partners in the TNK-BP joint venture flared up anew yesterday as a group of Russian shareholders put up their own candidate to rival the British company’s choice of chief executive.
BP unveiled Pavel Skitovich, a former head of Russian mining firm Polyus Gold, as its choice to lead the joint venture earlier this week.
But the oil giant was forced to postpone Skitovich’s coronation after its Russian partners put forward their own candidate, Maxim Barsky, a former managing director of West Siberia Resources.
The rebellion stems from Alfa Access Renova (AAR) – a group of four Russian oligarchs led by Mikhail Fridman, who will serve as interim chief executive. The group is believed to have questioned Skitovich’s experience in the oil industry.
BP has clashed with its Russian partners before, particularly over former chief executive of TNK-BP Bob Dudley, who led the venture from 2003.
Dudley, along with the rest of his board, was eventually forced to step down late last year after a campaign by AAR, even fleeing Russia and going into hiding at one stage.
He was later rewarded with a place on the board of BP.