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TNK-BP sacks 390 managers in Moscow HQ

 Reuters

TNK-BP, half owned by oil major BP (BP.L: QuoteProfileResearch,Stock Buzz), has become the first oil producer to cut its staff, the daily says reporting on sacking of 390 managers in the head office in Moscow. (ROSSIISKAYA GAZETA)

REUTERS ARTICLE

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BP will back CPC pipeline expansion if allowed to sell stake

MOSCOW, Nov 28 (Reuters) - Oil major BP will back the long-delayed expansion of the CPC pipeline from Kazakhstan to Russia as early as December if it faces no obstacles in selling its stakes in the pipeline venture, it said on Friday.

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Sakhalin Energy’s Pipeline

The Moscow Times

Friday, November 07, 2008 Updated at 07 November 2008 0:11 Moscow Time.

Gazprom’s Sakhalin Energy venture began filling an oil pipeline from Sakhalin-2 that may allow it to start year-round crude production this year. 

Sakhalin Energy expects the first tanker loading at the port of Prigorodnoye by the end of 2008, said Marina Makarova, the firm’s pipeline development manager. 

(Bloomberg)

SOURCE ARTICLE

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Sibir loses top spot on Aim

Sibir sank 32.9 per cent to 204¾p, valuing the company at £791m. Three months ago it had been worth £3.2bn, bolstered by hopes that Royal Dutch Shell would take a stake.

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Second TNK-BP executive resigns

Anthony Considine, the company’s head of downstream business, responsible for its oil refining, trading and marketing businesses, is leaving after five years to “pursue other opportunities” as the battle for control of the business escalates.

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Kremlin ‘Capitalism’ Is a Threat to the West

Gazprom wrested control of the $22 billion Sakhalin-2 oil and gas project from Royal Dutch Shell for a fraction of market value.

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.

Gazprom Neft Proposes Asset Swap With Chevron, Eni, Shell

Russia's OAO Gazprom Neft (SIBN.RS) has proposed to swap assets with a number of international majors, including Chevron Corp. and Royal Dutch Shell PLC the company said Tuesday.

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.

Oil: BP loses grip on troubled Russian venture as head of finance quits

The company has spent the past year fighting off claims from the tax, environmental and immigration authorities in what has been seen by some industry specialists as a rerun of the kind of problems that afflicted Shell until it sold part of its shareholding in Sakhalin to state-owned Gazprom.

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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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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.

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Russians issue legal threat to TNK- BP’s Robert Dudley

BP has been under siege in Russia for months, with police raids on its Moscow office, problems getting visas for staff seconded to TNK-BP, and legal action from a minority investor. On Wednesday, the UK company withdrew its remaining 60 engineers.

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Appetite for Arctic oil rises in line with crude prices

The appetite for Arctic oil has surged in line with rocketing crude prices but environmental concerns and a diplomatic stalemate stand in the way of exploration, experts say.

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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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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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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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BP chief Tony Hayward warns Russia that rule of law is key

"Our fear is that the news [about Mr Dudley] may represent the next phase in attempts to put pressure on the chief executive and the organisation to bring the TNK-BP resources under state control."

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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