TNK-BP talks up chances of Rosneft deal March 1, 2011 EXECUTIVES at TNK-BP are keen to join BP’s Arctic drilling deal with Russian oil company Rosneft, its chief financial officer confirmed yesterday. “In relation to Arctic opportunity it has been accurately reported that management at this point has proposed that the board consider participation in the Arctic opportunity,” Jonathan Muir told a conference call, adding [...]
Hayward in talks to join Glencore board January 23, 2011 FORMER BP chief executive Tony Hayward is in early talks about joining the board of commodities trader Glencore as part of its planned initial public offering, it emerged yesterday. Hayward, who is a non-executive director for Russian oil venture TNK-BP, recently met with Glencore chief executive Ivan Glassenberg to discuss taking a non-executive role, according [...]
Baltic Oil suspended from trading on accounts delay June 15, 2011 SHARES in Aim-listed Baltic Oil Terminals were suspended yesterday, after the company admitted it would miss a deadline to provide shareholders with its audited accounts. Baltic was forced to refile its accounting records after irregularities were uncovered relating to its operations in Kaliningrad in Russia. Changes in the senior management team at Kaliningrad earlier this year [...]
Global Ports IPO to value company at $2.4bn June 16, 2011 Russian logistics group Global Ports is aiming to raise up to $578m (£354m) from its London initial public offering, valuing the company at up to $2.4bn. The group, owned by Russian conglomerate N-Trans, is pricing its 35m-share offer in a range from $14.70 to $16.10. The majority of the offer will comprise existing shares to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 8, 2011 FINANCIAL TIMES DEADLINE LOOMS TO OUT SECRET SUITORS Companies covertly circling UK acquisition targets are being warned by advisers that they risk the disclosure of their identities to the market in coming days if they pursue bid talks. On 19 September, the UK Takeover Panel, which regulations M&A of public companies, brings into force new rules [...]
BP’s Russian partners plot to block dividends January 31, 2011 BP’s RUSSIAN partners are attempting to derail the payment of the firm’s final dividend payment of last year in a row over exploration contracts. AAR, a vehicle for the billionaires who own half of Russian venture TNK-BP, said at an extraordinary board meeting yesterday that it plans to block TNK-BP interim dividends amounting to $1.8bn [...]
Shell moves in on BP’s failed Rosneft deal May 25, 2011 ROYAL Dutch Shell is moving in on Russia’s Arctic energy reserves in the wake of BP’s failure to resolve its legal issues surrounding a tie-up with Rosneft, Moscow’s national oil giant. Shell chief executive Peter Voser met with Russian deputy prime minister and energy chief Igor Sechin as well as Rosneft chief Eduard Khudainatov yesterday. [...]
Shell moves in on BP’s failed Rosneft deal May 25, 2011 ROYAL Dutch Shell is moving in on Russia’s Arctic energy reserves in the wake of BP’s failure to resolve its legal issues surrounding a tie-up with Rosneft, Moscow’s national oil giant. Shell chief executive Peter Voser met with Russian deputy prime minister and energy chief Igor Sechin as well as Rosneft chief Eduard Khudainatov yesterday. [...]
Business weighs risks of Russian investment June 19, 2011 AS the St Petersburg International Economic Forum wrapped up over the weekend, the business leaders and investors who flew into Russia to see President Dmitry Medvedev outline his vision for attracting foreign investment into the resource rich former super power were hopeful that reform is finally on the way, but sceptical that the Russian leadership [...]
BP faces legal action over Rosneft deal January 27, 2011 RUSSIAN billionaires involved in BP’s Russian venture TNK-BP yesterday took legal action to block BP’s $16bn (£10bn) share-swap with Russia’s state-owned oil group Rosneft. The four partners in TNK-BP, who operate through a group named Alfa-Access-Renova, claim that BP’s deal with Rosneft might breach earlier agreements that give TNK first refusal on any BP activity [...]