Nothing will happen to TNK-BP without the say-so of the Kremlin,'' says Chris Weafer, chief strategist at UralSib Financial Corp., a Moscow-based brokerage. ``The endgame is clear with Putin's government having set up the model of state control.''
Putin
BP Losing 23% of Production Looms as Russians Assail Investment
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are owned by John Donovan. There is also a Wikipedia segment.
The Bitter Battle To Lead TNK-BP
Ultimately, these people say, the Kremlin is seeking to gain control over the venture for a state company like OAO Gazprom, likely leaving BP as a minority partner.
BP withdraws remaining TNK-BP specialists
Dmitry Peskov, spokesman for Vladimir Putin, the Russian prime minister, reiterated that view on Tuesday but added we can only hope that such decisions by BP do not negatively impact the activity of the company.
The Russia-Venezuela Alliance: Using Energy for Geopolitical Advantage
When Venezuela's President Hugo Chávez touches down in Moscow on July 22 to meet with the duumvirate of Prime Minister Vladimir Putin and President Dmitry Medvedev, he will be ready for more than the usual diplomatic photo-op. This odd trio will be well-positioned to plan substantial international mischief.
In Dispute With BP, Kremlins Hand Is Seen
The Kremlin has been methodically reasserting control over the oil industry since effectively renationalizing the Yukos oil company from private owners just as oil prices began to spike in 2004. Subsequently, the Anglo-Dutch company Shell, the Russian company Russneft and TNK-BP have all been compelled to sell assets or renegotiate deals.
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.
Russia chides oil majors on production
Letters have been sent to Exxon Neftegaz, Sakhalin Energy Investment Company - where Shell is the No. 2 shareholder after Gazprom - and Total. The auditor has also forwarded details of its claims to the Finance Ministry and the Federal Anti-Monopoly Service.
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.
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.
Russia, TKN TNK-BP and the rule of law
Whatever expectations one has of the Russian government and civil institutions, they always disappoint.
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
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.
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.
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...
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.
MEMO FROM ST. PETERSBURG
ST. PETERSBURG, Russia The lineup told it all about Russias importance today. There, on one stage, sat the leaders of BP, Royal Dutch Shell, Chevron, Exxon Mobil, ConocoPhillips, Total, Schlumberger and Dow Chemical, as well as the chairman of the Russian energy giant Gazprom and the president of the Russian oil company Lukoil.
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