Tony Hayward

Strained relations thaw over TNK-BP

Financial Time (Free subscription) | 15 hours ago

Tony Hayward, BP's chief executive, described his fight with the Russian partners of TNK-BP as that of the 'immovable object meeting the irresistible force'

TNK-BP joint venture dispute cools as new agreement is signed

The Telegraph (Free subscription) | 15 hours ago

Removal of chief executive clears path for TNK-BP oil joint venture. BP chief executive Tony Hayward expects the wave of legal and regulatory action against the company's operations in Russia to cease following a preliminary deal to resolve a fierce dispute with shareholders at its oil joint venture TNK-BP.

The lesson for BP is never again to be so naive in dealing with Russia

The Telegraph (Free subscription) | 15 hours ago

Something went right for a Labour Cabinet minister yesterday. Implausible, I know, but true. It was David Miliband, the Foreign Secretary, who enjoyed that rare distinction. His good fortune is thanks to a late July meeting in Prague's Palais hotel between Tony Hayward, chief executive of BP, and Mikhail Fridman, chairman of Alpha Group, a lead investor in TNK-BP, the Russian oil joint...

TNK-BP joint venture dispute cools as new agreement is signed

Royal Dutch Shell plc .com (Free subscription) | 6 hours ago

TNK-BP joint venture dispute cools as new agreement is signed12:42am BST 05/09/2008BP chief executive Tony Hayward expects the wave of legal and regulatory action against the company’s operations in Russia to cease following a preliminary deal to resolve a fierce dispute with shareholders at its oil joint venture TNK-BP.Tony Hayward says the new understanding paves the way...

• TNK-BP joint venture dispute cools as new agreement is signed - The Telegraph

BP seen closing deal with Russian partners

Reuters UK (Free subscription) | yesterday

Vedomosti daily quoted unnamed sources close to TNK-BP as saying the deal between the two sides, involved in a fierce dispute over the firm's management, could be signed as early as Thursday at a meeting between one of the Russian shareholders, Mikhail Fridman, and BP CEO Tony Hayward.

Report: Investors near compromise at TNK-BP

San Fransisco Chronicle (Free subscription) | yesterday

BP PLC is close to reaching a deal with its billionaire Russian partners in the TNK-BP, signaling an end to a bitter struggle for control at the Russian-British joint venture, a newspaper reported Thursday. BP chief Tony Hayward is to meet later Thursday with...

BP loosens TNK-BP grip to end fight with oligarchs

The Earth Times Online Newspaper (Free subscription) | yesterday

... which analysts said was worth $45 billion, with only minimal compensation.BP Chief Executive Tony Hayward said the terms agreed would protect BP's investment going forward, even though its effective management control over TNK-BP had been weakened."We have made some modest adjustments to give the company a little more freedom," BP Chief Executive Tony Hayward told Reuters...

Peace breaks out for BP in Russia

The Herald (Free subscription) | 13 hours ago

... of output for BP, this is one of the biggest foreign investments in Russia.In a deal negotiated by Tony Hayward, BP's chief executive, the company has agreed to sacrifice Robert Dudley, head of the venture, who will be replaced by a Russian-speaking executive. BP has also agreed to allow the venture partners to get some cash out of the business, subject to the agreement of Russian...

BP settles Russian joint-venture row

Scotsman.com (Free subscription) | 14 hours ago

... float by 20 per cent, making it a substantially more liquid and therefore attractive company." Tony Hayward, BP's chief executive, said the agreement was "a sensible means of resolving a situation that could not continue without causing serious damage to what has been an immensely successful joint venture for all concerned".The UK oil major had accused its partners of orchestrating...

BP’s Russian alliance with Gazprom put on ice

Royal Dutch Shell plc .com (Free subscription) | 6 hours ago

... but gained a powerful ally in state-controlled Gazprom to expand in other parts of the world. But Tony Hayward, BP’s chief executive, said yesterday that the plans had “no traction… We had an outline agreement, but I don’t think they [Gazprom] want to do it”. There had been no serious talks for some time, and none were planned, he said.The outline agreement, signed on June 22 last...

TNK-BP becomes independent oil major as warring sides reach deal

Royal Dutch Shell plc .com (Free subscription) | 6 hours ago

BP, whose shares rose 4 per cent on news of the deal, appears to have bowed to many of the Russian shareholders’ demands by agreeing that Robert Dudley, the chief executive of the joint venture, would leave by the end of the year.

BP sees future with Russian partners

FT.com - Europe homepage (Free subscription) | 15 hours ago

... it opened its campaign against BP in the spring, including the replacement of Mr Dudley.However, Tony Hayward, BP’s chief executive, described the changes to TNK-BP’s governance as “relatively modest” and said BP had secured its most important objectives in the negotiations with AAR.Mr Hayward said the new management structure, with three independent directors on an 11-member...

BP's Russian alliance with Gazprom put on ice

The Telegraph (Free subscription) | 15 hours ago

... but gained a powerful ally in state-controlled Gazprom to expand in other parts of the world. But Tony Hayward, BP's chief executive, said yesterday that the plans had "no traction... We had an outline agreement, but I don't think they [Gazprom] want to do it". There had been no serious talks for some time, and none were planned, he said.

TNK-BP becomes independent oil major as warring sides reach deal

Times Online (Free subscription) | 15 hours ago

... up to a fifth of the subsidiary on stock markets in London and Russia, at an appropriate point. Tony Hayward, the chief executive of BP, described the agreement as a “sensible means of resolving a situation that could not continue without causing serious damage”. He said that BP was giving the company a little bit more freedom to allow it to grow. “This agreement has the potential...

Investors settle Russian oil spat

Russia News Net (Free subscription) | yesterday

... its 50% stake in the venture, which supplies one-quarter of BP's oil and gas production.BP CEO Tony Hayward described the agreement as "a sensible means of resolving a situation that could not continue without causing serious damage to what has been an immensely successful joint venture for all concerned.""I now look forward to a fruitful conclusion of negotiations so that we can...