The Times July 26, 2008 BP chief Tony Hayward takes tough line against Russian partners Robin Pagnamenta, Energy and Environment Editor 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 [...]
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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.
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.
“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.