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TNK-BP

Russia’s TNK-BP employees suing CEO Dudley

MOSCOW, July 17 (Reuters) - A group of employees at BP's (BP.L: Quote, Profile,Research, Stock Buzz) troubled Russian oil venture TNK-BP have filed a lawsuit in Moscow against the firm's chief executive, accusing him of mismanaging the company in the absence of a proper contract.

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Shell increases stake in logen

Royal Dutch Shell, the Anglo-Dutch oil group, and Iogen, the Canadian biotech company, have agreed to extend their commercial alliance...

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Russian Group Suggests Ending TNK-BP Fight by Buying BP’s Stake

The dispute comes after Royal Dutch Shell Plc, Europe's second-biggest oil company, was forced in 2006 to cede control of its biggest project in Russia to the country's natural-gas monopoly, OAO Gazprom.

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Imperial surges on ONGC approach

Mr Mitvol had led the pressure on Royal Dutch Shell over its Sakhalin 2 oil and gas project off the east coast of Russia, which led to it having to cede control in the project to Gazprom.

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BP-TNK partners are back on speaking terms

The two sides have been in a bitter fight for control of TNK-BP, Russia's third largest oil producer...

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Bully-boy Russia needs a lesson in manners

Mr Brown sought assurances that the Russians would stop causing difficulties for BP employees working in Russia, but received none.

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Oil billionaire Viktor Vekselberg sets out peace plan for TNK-BP row

Viktor Vekselberg, one of the four Russian billionaires who together own a 50 per cent stake in TNK-BP, last night set out a four-point peace proposal aimed at ending the bitter dispute with joint venture partners BP.

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Russia: Pulling down the curtain again

In the view of the Kremlin, some investors are more equal than others.

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TNK-BP faces new probe by Russian inspectors

Russian tax and labour inspectors have begun fresh investigations into TNK-BP, increasing the pressure on BP ahead of a key meeting with its Russian partners.

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BP Thwarts Ouster of Oil Venture’s Chief

Beyond proving an adage in Russian investing — do not turn your back on your Russian partner — the vote highlighted the continuing struggle of BP to maintain control over a pumping asset that is exceptionally important for its global business.

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Brown fails to ease tensions with Kremlin

Gordon Brown's hopes of a thaw in Britain's relationship with the Kremlin received a setback yesterday after "sharp-edged" talks with the new Russian president, Dmitry Medvedev.

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Robert Dudley clings on by fingertips to TNK-BP job

However, he appears to have won only a temporary respite from their attempts to remove him.

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BP has been treating Russians as subjects

We have been left with no choice. Sadly, BP has refused to engage meaningfully with any of the proposals we have made in recent years. Rather than talk to us, it has chosen to misrepresent our objectives and the nature of the dispute between us.

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BP’s rivals shift in Russian tussle

A similar barrage of official harassment was unleashed in 2006 against Royal Dutch Shell to force it to sell a controlling stake in its giant Sakhalin gas venture to Russia's state-dominated energy champion Gazprom.

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Russians prepare ‘legal onslaught’ in battle with BP

The Russian billionaires fighting BP for control of their oil joint venture, TNK-BP, are lining up a legal onslaught in a bid to force the UK company into submission.

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From Russia With Contempt

The truth is that the rule of law in Russia was mocked, not strengthened, under Vladimir Putin, and it remains a sham. It offered no more protection for Shell (squeezed out of the Sakhalin-2 gas project after being threatened with a $30 billion environmental lawsuit) or Yukos (dismantled by the Tax Ministry and sold off to Kremlin allies) than it does now for BP or 140 million ordinary Russians.

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G8 needs to tell Russia to apply the rule of law

In Russia it's all war and no peace for BP.

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Russian partners bid to remove TNK-BP chief

The power struggle at TNK-BP has taken another twist...

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TNK-BP CEO, execs get permits to stay in Russia

MOSCOW, July 2 (Reuters) - Russia will renew work permits and visas for the chief executive and managers of BP's (BP.L: Quote, Profile, Research, Stock Buzz) oil venture TNK-BP TNBPI.RTS, easing fears of a exodus of foreign staff caught up in a bitter corporate dispute.

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BP’s foreign staff may have to quit Russia ‘in weeks’

A person close to TNK-BP said visa and work permit problems looked "orchestrated and choreographed" to force foreign staff out.

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Russia, TKN TNK-BP and the rule of law

Whatever expectations one has of the Russian government and civil institutions, they always disappoint.

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BP faces endgame

The struggle for control of BP's Russian joint venture TNK-BP has escalated into open warfare...

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Oil: BP edged further out of Russia after visas are refused

The future of BP in Russia was in doubt last night after its joint oil venture TNK-BP confirmed that its chief executive, Bob Dudley, and all international staff would have to leave Russia this month.

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The march of the oligarchs

Would you rather bet on Russia or Nigeria?

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Moscow axes work visas for TNK-BP

BP’s grip on its Russian oil joint venture was slipping on Monday after authorities in Moscow refused work permits to many of the company’s foreign executives in a ruling that could see all of them forced out of the country by the end of the month.

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BP staff thrown out by Moscow but Russia refined enough for Sibir Energy

Yesterday, Moscow refused work permits for about 75 staff. BP described the ruling as “utterly disgraceful”.

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Higher oil could lead to a worldwide economic collapse, says top analyst at Germany’s largest bank

Russia Could be Trigger for $200 Oil and Global Recession

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Allegations in Russia Could Hurt BP Venture

A year earlier, Royal Dutch Shell was pressured to sell a controlling stake in the world’s largest oil and natural gas development, Sakhalin-2, to Gazprom. In that case, the government cited environmental damage in a pipeline project.

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Russians are menacing to BP, says Mandelson

EU officials believe that the Russian shareholders will eventually sell their stake to Gazprom or another state-run entity. Their battle against BP is a ruthless attempt to drive up the multibillion-dollar price of any deal, they say.

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TNK-BP dispute triggered by Iraq oil project row

A dispute over an oil project in Iraq was the “final straw” that triggered a public falling out over control of TNK-BP, according to BP's partners in the Russian joint venture.

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Need to Know: Natural Resources

Royal Dutch Shell, the Anglo-Dutch oil and gas group, is planning to construct a 3.5 million tonne floating liquefied natural gas facility. Three consortiums comprising engineering and shipyard contractors are vying for the contract.

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Raiders of the Russian billions

Last week even BP's chairman Peter Sutherland used the word raiding. BP's Russian partners were trying to seize control of TNK-BP, their troubled joint venture, using dubious 1990s "corporate raiding" practices, he said.

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Russian slaps fine on TNK-BP and its British CEO

MOSCOW, June 23 (Reuters) - Russia's labour inspectorate said on Monday it had fined oil firm TNK-BP, owned 50-50 by BP Plc (BP.L:Quote, Profile, Research) and a group of Russian tycoons, a penalty that could force its chief executive, Robert Dudley, from his post.

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The struggle for control of TNK-BP has sunk to new depths

BP owns 50 per cent of TNK-BP and now war is declared it is steeling itself for a long fight

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BP accused of arrogance and incompetence by oligarch partner in joint Russian venture

BP's reputation in Russia came under attack yesterday when the billionaire oligarch at the centre of a row over the company's troubled Russian joint venture accused BP of "arrogance" and Nazi-style behaviour

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Gloves come off in BP’s Russian row

A dispute between BP and its Russian partners over the future of their TNK-BP joint venture has escalated into open warfare, with the UK oil giant threatened with a legal showdown and the company's chairman, Peter Sutherland, accused of using Nazi propaganda tactics.

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Another Rough Russian Road

That attack ended with the sale of Shell's interests on Sakhalin Island -- at what appeared to be a considerably below-market price -- to mammoth Russian gas producer Gazprom.

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Possible way out of a minefield

The deals to oust Royal Dutch Shell as the majority shareholder in the Sakhalin 2 project, and to displace TNK-BP from the Kovykta gas field, both favoured Gazprom. Signs of the changing attitude were apparent at the St Petersburg Economic Forum last weekend. One Russian government official said: "For BP, it is it the best scenario if Alfa sells out to Gazprom.

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BP chairman’s last challenge

The new chairman is more likely to be someone with an oil industry background. One highly eligible candidate would be Paul Skinner , chairman of Rio Tinto. He knows the oil business inside out, having had a 40-year career at Shell, and is widely admired for his record at Rio.

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BP ups stakes by accusing Putin of failing to stop hijack by oligarchs

The treatment of BP is seen as a bellwether of Kremlin attitudes to foreign investors, following the effective seizure of assets from Shell at Sakhalin after a long period of destabilisation.

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BP vents its frustration on Russian partners

BP chairman Peter Sutherland warned that unless President Dmitry Medvedev backed up his promises to restore "the rule of law", Western companies would likely turn their back on the country...

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Boardroom Brawl Roils BP’s Russia Venture

In 2006, environmental regulators threatened to shut down a vast oil and gas project off the Far East island of Sakhalin operated by Royal Dutch Shell PLC. Shell was forced to sell half its stake to state-owned Gazprom.

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TNK-BP chief faces Russia inquiry

Robert Dudley, the BP-backed chief executive of TNK-BP, the Russian oil venture, will go to Russia's Interior Ministry today for questioning as part of a criminal investigation into corporate tax evasion, people close to the company said yesterday.

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TNK-BP boss does a no-show for questioning by prosecutors

Analysts say the joint venture is being subjected to a legal onslaught, that also includes investigations into alleged tax evasion and industrial espionage, in a Kremlin-approved campaign to force the company to cede control to a state-owned firm.

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BP battle for Russia oil deal to escalate

A battle between BP and its Russian partners for control of TNK-BP, the oil venture, overshadowed Russia’s efforts to court chief executives from some of the world’s biggest companies this weekend as a senior government official said the stand-off was set to escalate.

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Kremlin leaves BP shaken, but it won’t stir

There have also been allegations about visa breaches and infringements of corporate law that remind observers of the campaign waged two years ago against Shell, which reluctantly surrendered control of a huge oil project on the Russian island of Sakhalin.

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Russia Probes BP Exec in Attempt to Reclaim Energy Sector

Royal Dutch Shell PLC (RDS.A) was forced to relinquish control of its Sakhalin-2 oil and gas project to OAO Gazprom (OGZPY.PK) for $7.45 billion when the Russian government threatened to block investment plans by canceling building permits on environmental grounds. And just last year, TNK-BP was talked into selling its 62.8% stake in one of the world’s largest gas fields, the Kovytkta field, to Gazprom, after Russian authorities threatened to revoke the company’s license to develop it.

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BP: Roughed Up in Russia

In 2006, Royal Dutch Shell (RDS.A) ceded control of its Sakhalin II project to Gazprom after pressure from the authorities.

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The risks of Russia

There is no sign Russia is going to be a safer place to do business in the near future. For now, investors should be aware the Russian risk premium is here to stay. Russians should be aware that, ultimately, it will be they who will pay it.

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Hayward faces test of mettle over TNK-BP

The struggle for control of TNK-BP is the first big test for Tony Hayward's leadership of BP.

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