Foreign companies were relegated to minority stakes. Facing a wave of regulatory pressure, for example, Royal Dutch Shell PLC in late 2006 ceded control of a $22 billion gas project to Gazprom.
BP-TNK
Misreading the Kremlin Costs BP Control in Russia Venture
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Big Oil Projects Put in Jeopardy by Fall in Prices
Were in remission right now, said Marvin E. Odum, the vice president for exploration and production for Royal Dutch Shell in the Americas. But once the economy picks up, he said, the energy challenge will come back with a vengeance.
Russians control TNK-BP as foreigners leave-sources
Russian oligarchs have taken effective management control of BP's Russian oil venture TNK-BP as part of an exodus of foreign executives from senior positions, according to TNK-BP sources.
BP’s troubles in Russia show Big Oil’s clout fading
Gone are the days when BP manhandled reserves out of foreign countries, as it did in Iran the early years of the last century. Once the lion of British enterprise, Russia has brushed it aside like a kitten.
