By Ed Crooks
Published: March 24 2007 02:00 | Last updated: March 24 2007 02:00
When Lord Browne, BP’s chief executive, met Vladimir Putin in Moscow yesterday, it was an occasion for pleasantries and formalities, not hard bargaining.
Lord Browne was introducing his successor Tony Hayward, who takes over at the beginning of August, and turning on the charm for the man who controls the world’s biggest oil and gas reserves.
The atmosphere of the meeting will have been helped by the announcement yesterday morning from TNK-BP, BP’s 50 per cent-owned Russian joint venture, that it was prepared to pay $7.5bn (£3.8bn) or more for a 9.44 per cent stake in Rosneft, the state-controlled oil company. The stake, one of the assets of the bankrupt Yukos group, is going up for auction next Tuesday. read more
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