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Posts on ‘July 26th, 2008’

BP chief Tony Hayward takes tough line against Russian partners

Times Online July 26, 2008

BP chief Tony Hayward takes tough line against Russian partners

BP threw down the gauntlet to its Russian partners yesterday, saying that the group would not be forced out of its troubled joint venture.

“We intend to hold our ground and we are not going to be intimidated,” Tony Hayward, the chief executive of BP said in an interview with The Times.

But despite the rhetoric, Robert Dudley, TNK-BP’s American chief executive, remains in hiding outside Russia as speculation grows that his abrupt departure was triggered by fears of imminent arrest. Mr Hayward said that he had been forced to leave because of a refusal by the Russian authorities to grant him a visa and investigations by state security agents. read more

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TNK-BP row ‘is bad for Russia’ says British Foreign Office

Investors began to bail out of Russian-focused shares in London as concerns grew about the ability of Western companies to do business in the country.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Paying the price for Russia’s ‘loveable rogues’

Russian stocks are in freefall, spooked by threats of anti-trust inquiries by Vladimir Putin, the Prime Minister, falling oil prices and the chicanery over TNK-BP.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The retreat from Moscow

"ExxonMobil is the only one that could really pull it off but it is more logical for BP to do a merger of equals with Shell with Tony Hayward running both companies," Gheit added.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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