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Russia News Net (Free subscription) | yesterday
... (TNBP:RU) is the 50/50 joint venture which BP shares with the Russian trio of Fridman, Len Blavatnik, and Victor Vekselberg; reflecting the names of their respective holdings, Alfa, Access and Renova, they are collectively known as AAR.Dudley, BP's chairman Peter Sutherland, and chief executive Tony Hayward, may have thought their proposed deal had the blessing of Gazprom's chairman at the...
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Asia Times (Free subscription) | yesterday
... chief executive of TNK-BP - the 50/50 joint venture BP has operated for five years with Fridman, Len Blavatnik and Victor Vekselberg - has also been using several quaint contrivances to defy the laws of gravity. Dudley was found out, having tried to negotiate secretly with Russia's Gazprom the sale and purchase of the 50% stake in TNK-BP owned by the Russian trio - collectively known as...
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Russia News Net (Free subscription) | 09/04/2008
MOSCOW (AP) -- BP PLC and its billionaire Russian partners in the joint venture TNK-BP have agreed on a deal that forces out its embattled CEO and signals an end to a bitter struggle for control of th...
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Russia News Net (Free subscription) | 09/04/2008
... had fought with the Russian shareholders -- Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik. BP Chief Executive Tony Hayward said Dudley "will be very hard to replace" and stated that the venture had the best record of production growth, reserves replacement and shareholder return, including the declaration of more than $20 billion in dividends over five years. Hayward...
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CNNMoney.com (Free subscription) | 09/04/2008
... of Alfa Group's Mikhail Fridman and German Khan, Renova's Viktor Vekselberg and Access Group's Len Blavatnik. will nominate a new, independent CEO to replace Dudley, which must be approved by the TNK-BP board, according to both BP and AAR officials.The deal ends an acrimonious and very public fight that has battered Russia's image among investors. It has also contributed to a downgrade of...
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Russia News Net (Free subscription) | 09/04/2008
... it had signed a memorandum of understanding with tycoons Mikhail Fridman, Viktor Vekselberg and Len Blavatnik, the owners of the other half of the company, Russia's No. 3 oil producer.The agreement follows months of wrangling between BP and the Russians over control and strategy.The dispute has been seen as a test of Russia's investment climate. Russia's main RTS index has plummeted 37%...
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Houston Chronicle (Free subscription) | 09/04/2008
... a cloud from the shares."Russian investors Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik made removing Dudley, who'd headed the venture since it was formed in 2003, central to negotiations, saying he favored BP's interests over theirs. The American executive and London-based BP both denied that.The agreement will free the venture of "this significant distraction and the...
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The Telegraph (Free subscription) | 09/04/2008
... finish three months of rowing between BP and Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik, the Russian partners in the venture. Analysts reckon the agreement is likely to hand TNK-BP's Russian partners more influence over future strategy in Russia, which contributes a quarter of BP's total output across the world. Oleg Maximov, an oil analyst at Troika Dialog brokerage...
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Market Watch (Free subscription) | 09/04/2008
... had fought with the Russian shareholders -- Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik. BP Chief Executive Tony Hayward said Dudley "will be very hard to replace" and stated that the venture had the best record of production growth, reserves replacement and shareholder return, including the declaration of more than $20 billion in dividends over five years. Hayward...
