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Kremlin May Force BP To Share Oil Venture 2007-03-20 01:13:26 (180 weeks ago) Posted By: Intellpuke (Read 1026 times || 0 comments) BP has warned western investors that it could soon be forced to share control of its highly profitable Russian joint venture, TNK-BP, with a Kremlin-controlled energy group such as Gazprom or Rosneft. The change could come after the end of a "lock-in" period in December when its local private partners, the Alfa and Access/Renova groups, can sell their 50% stake in Russia's third largest oil producer. The other half is owned by BP. BP's warning comes after the forced sale of part of Shell's Sakhalin-2 oil and gas development in eastern Russia to Gazprom at the end of last year. Bob Dudley, TNK-BP's chief executive, said sharing power with a large energy group such as Gazprom or the newly expanded Rosneft should not be seen as a huge problem for his group. "Having one's main investors linked to oil and gas is a good thing and might create additional markets for the company," he said. (story continues below) Your Ad Here Make a donation today to remove the advertisments! This Story Has Been Archived. To read the full story in the archives, please make a donation. Log In Now Admin Functions Edit Story Email To A Friend Email this story to a friend: Your Name: Their Email:   Related Stories (βeta) Russia Tries To Rein In Foreign Oil Firms 2006-09-19 00:38:52 (Score: 59) BP Concedes To Russian Partners 2008-09-05 14:06:55 (Score: 46) Putin Defends State Takeover Of Yukos Unit 2004-12-23 18:16:10 (Score: 44) Blair Wades In To Russian Oil Crisis 2006-09-24 00:30:28 (Score: 42) Russia, Chinese Oil Grabs Could Put Western Supplies At Risk 2006-10-02 15:41:45 (Score: 41) Russia Seizes Control Of $20 Billion Gas Project, Forces Shell Out 2006-12-12 03:49:13 (Score: 40) Russia's Gazprom Buys Siberian Gas Field From BP 2007-06-23 01:21:19 (Score: 40) Royal Dutch Shell Costs On Sakhalin Gas Project Spiralling 2006-10-21 22:23:26 (Score: 39) BP Edged Further Out Of Russia As Visas Are Refused 2008-07-01 20:27:43 (Score: 37) BP's Russian Partnership Sours 2008-06-16 20:01:26 (Score: 36) Bush Friend Linked To Top Job In Russia Oil Industry 2005-12-14 00:32:12 (Score: 35) Putin Plans To Shut Out U.S. Oil Giants From Barents Sea Field 2006-07-23 00:31:02 (Score: 34) International Energy Agency: Beware Of Energy Nationalism 2007-07-10 02:27:15 (Score: 33) Russia Bans Foreign Resource Bids 2005-02-11 23:59:01 (Score: 33) Canada's Harper, Russia's Putin Promote Joint Natural Gas Ventures 2006-07-16 00:38:34 (Score: 31)   Readers Comments Add your own comment. (Anonymous commenting now enabled.)

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