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Posts Tagged ‘TNK-BP’

BP, Russian billionaires, and the Kremlin: a Power Triangle that never was

Dr Shamil Yenikeyeff analyses the reasons for the collapse of BP’s Arctic partnership with the Russian state company Rosneft. He argues that the BP–Rosneft deal was inauspicious even before it was signed due to the history of the Kremlin’s reluctance to back BP plc in its often uneasy relations with the AAR consortium – BP’s [...]

Oil, money and greed

PETROLEUM ECONOMIST A new book tells the story of the oil industry’s boom-bust cycle through the personalities of its main protagonists. It isn’t always a flattering portrait, writes Derek Brower The book is especially strong on such juicy details, not least when it describes the machinations – rivalries, personality clashes and egos at work – [...]

Gas company Gazprom on brink of sealing tax breaks

Only three years ago, Shell, the world’s biggest oil company, was forced to give up control of the giant Sakhalin development, handing over half of its interest to Gazprom after a dispute over costs and the environment.

Russia: Oil Exploration Law May Need Revisions

Royal Dutch Shell executives publicly complained about the rule earlier this year. The company’s director for exploration and production, Malcolm Brinded, said in February that foreign investors wanted more confidence about accessing the oil and gas riches they discover.

Gazprom Neft to Acquire Sibir Stake

Analysts said the Gazprom Neft bid will be good news for Royal Dutch Shell PLC, the Anglo-Dutch supermajor that is Sibir’s 50-50 partner in the Salym field. Shell would prefer to have Gazprom as a partner there over BP, one of its main rivals.

Gazprom Neft grabs slice of Sibir

Sibir also owns a 50 per cent stake in a joint venture with Royal Dutch Shell to develop one of Russia’s most promising fields, Salym, where production hit 80,000 barrels a day in January.

TNK-BP bids for stake in Sibir

TNK-BP, the Russian oil venture half owned by BP, is launching a bid for a significant minority stake in Sibir Energy, the Aim-listed energy group dogged by corporate governance issues.

Controversial oil group Sibir Energy in takeover talks

Now the company appears to be a takeover target. Earlier this month it denied reports it had received a bid approach from TNK-BP, which was said to be planning a £2.3bn offer. But it now seems there was something concrete behind the tale after all

Sibir Energy Hasn’t Been Approached by TNK-BP

“It seems like a more natural buyer would be Royal Dutch Shell or Gazprom Neft because they already have partnerships,” Chirvani Abdoullaev, senior oil analyst at Alfa Bank in Moscow, said by telephone today.

BP signs peace deal with Russian partners

BP and its Russian partners in the TNK-BP joint venture have signed the peace deal they agreed in principle in 2008, weakening the British group’s grip on the company.

TNK-BP’s CEO Dudley steps down, Summers interim CEO

Dudley’s resignation, effective from Dec. 1 of this year, follows a protracted struggle between the firm’s British and Russian shareholders and was part of an agreement reached between BP and Alfa Access-Renova, the vehicle representing the four Russia-connected billionaires who own the other half of TNK-BP.

TNK-BP sacks 390 managers in Moscow HQ

  TNK-BP, half owned by oil major BP (BP.L: Quote, Profile, Research,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

TNK-BP cuts staff, sees risks at $50 oil

MOSCOW (Reuters) – Russia’s TNK-BP, half-owned by oil major BP is cutting downstream business staff at its head office and expects oil production to suffer if oil prices do not recover in 2009, a company executive said on Thursday.

Producers in turmoil as Russian oil hits $10 a barrel

Leading Russian oil producers, including TNK-BP, BP’s Russian affiliate, are grappling with a collapse in profits from the export of Siberian oil.

Sacked Russian environmental official Oleg Mitvol goes to court

Mitvol was appointed deputy head of the environmental regulator in April 2004, but came to international attention in late 2006 when he led a campaign against oil major Shell that resulted in a lucrative project being sold to Gazprom.