Dispute ends as BP loses its man in Russia September 5, 2008 The Long-running dispute between BP and its Russian partners at joint venture TNK-BP drew to a close yesterday, after the two signed a deal which paves the way for floating up to 20 per cent of the company. But the embattled chief executive Bob Dudley, who was chosen by BP, will get the chop – [...]
Second top executive quits troubled TNK-BP venture August 26, 2008 Russia’s third-largest oil producer TNK-BP has announced the departure of the second senior executive this month, further fuelling the crisis that has engulfed the firm. Executive vice president Tony Considine resigned yesterday after five years heading the refining, trading and marketing businesses at BP’s joint Russian venture. Considine cited personal reasons for the departure adding [...]
Imperial surges as India and China launch rival bids August 5, 2008 China and India are going head to head in a bidding war to take over British oil and gas firm Imperial Energy, sending its shares shooting up by 8 per cent yesterday. China Petroleum and Chemical Corporation, the state-owned oil company commonly known as Sinopec, has approached Imperial with an offer in the region of [...]
Georgia pulls forces out of rebel region August 11, 2008 Georgian forces pulled out of the breakaway South Ossetia region yesterday after three days of fighting, with Russia saying its troops controlled most of the separatist capital Tskhinvali. A Georgian convoy of troops and artillery left South Ossetia through Ergneti, a village just inside Georgian held territory south of Tskhinvali. “They have been withdrawn, completely,” [...]
Oligarchs in oil grab as BP chief expelled July 25, 2008 Robert Dudley forced to leave Russia after campaign of “harassment” by authorities British oil giant BP was dealt a devastating blow last night after Robert Dudley, boss of its TNK-BP joint venture, was forced to leave Russia. Dudley, a key BP ally in its long-standing battle with its four oligarch partners, lashed out at the [...]
Oligarchs in fresh bid to force out BP July 18, 2008 Joint venture boss Bob Dudley could be forced to leave Russia due to visa problems Bob Dudley, chief executive of BP’s Russian joint venture TNK-BP, could be forced out of the country in the next two weeks, it emerged yesterday. In a dramatic escalation of the oil giant’s dispute with its oligarch partners, Russia’s Federal [...]
BP defiant in Russia July 30, 2008 Defiant BP chief executive Tony Hayward yesterday said the British oil giant would “not be intimidated by the strong arm tactics” of its warring oligarch partners at its Russian joint venture, TNK-BP. Hayward said: “The other shareholders want to tear up the agreement that they willingly signed in 2003 We are not prepared to do [...]
Sinopec to launch a bid for Imperial August 4, 2008 Oil exploration firm Imperial Energy is expected to rise this morning, after reports that one of China’s biggest state-owned oil companies is launching a bid to buy the company. The China Petroleum and Chemical Corporation, commonly known as Sinopec, approached the firm last week and has already begun due diligence. It is thought that the [...]
BP’s man in Russia lives to fight again July 9, 2008 The Kremlin, BP and four Russian moguls all want control of TNK-BP. Roger Baird reports. The embattled chief executive of BP’s Russian joint venture TNK-BP, Robert Dudley, survived an attempt by its Russian billionaire partners to remove him on Monday – but he will have to do it all over again on Friday. The screws [...]
BP’s Dudley must go, say oligarchs July 28, 2008 The position of TNK-BP chief executive Robert Dudley was blasted as “untenable” yesterday by four Russian billionaires who own half the joint oil venture after he fled the former communist state last week. A spokesman for AAR, the holding company for the oligarchs Mikhail Fridman, Viktor Vekselberg, Len Blavatnik and German Khan, said: “It is [...]