MOSCOW (Reuters) - The Russian billionaire co-owners of TNK-BP , the Russian joint venture of oil major BP, are not in a position to block the possible sale of the British company's stake, a source close to BP said. "We can sell it if we want to," the source told Reuters in response to speculation that the billionaire quartet would seek to veto any deal. The Financial Times newspaper, citing a spokesman for Russian shareholder consortium AAR, on Monday reported that the TNK-BP shareholder agreement prevents BP from giving out any confidential information to a third party without its consent.
The deal for TNK-BP, a joint venture between BP and a group of Russian oil powerhouses, will boost the presence of Rosneft, the country's biggest oil producer.MOSCOW — Russian state-owned oil giant Rosneft strengthened its hold on the country's lucrative oil industry when it sealed a deal Monday to buy TNK-BP, the 50-50 joint venture between BP, the British energy company, and a group of Russian oil oligarchs.
Tony Hayward, the former head of BP who stepped down after the Gulf of Mexico oil spill catastrophe, is leaving his post on the board of its Russian joint venture TNK-BP, the company said Monday.Hayward, who came under huge criticism for his role in the clean-up of the oil spill, took on the role at TNK-BP as a BP-appointed director in July 2010 when Robert Dudley took over as head of the British energy giant.Hayward "informed the board that he would step down from the TNK-BP board of directors in order to pursue other opportunities," TNK-BP said in a statement.
Russia's state oil giant Rosneft vowed Friday to complete its strategic alliance with BP despite repeated efforts by the British firm's Russian venture to either block or join the deal.The statement from the country's largest oil company came after TNK-BP announced plans to try to break up its $16 billion share-swap and joint exploration agreement with BP and strike its own deal with the Russian firm.Rosneft stressed that it remained committed to the BP deal and ridiculed the British-Russian venture's bid to become its parner.