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Russian BP arm could be about to agree to a deal

Uzbekistan News.Net
Saturday 6th September, 2008

British and Russian shareholders fighting for control of their joint venture TNK-BP are expected to agree to a deal next week.

A meeting on Thursday between BP chief executive Tony Hayward for the British side and key Russian shareholder Mikhail Fridman is expected to produce a memorandum of understanding.

The proposed deal involves replacing TNK-BP's British chief executive Robert Dudley by an independent figure, which is a key demand of the Russian shareholders.

The other sticking point has been the public flotation of the company, which is expected to be resolved by offering up to 20 percent of the company for public shareholding.

The 50:50 ownership split between BP and the Russian shareholders would remain unchanged.

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Comments on this story

Russian Rape of Investors !!
09-07-08, 08:28 AM

Russian BP arm could be about to agree to a deal

With the Removal of Dudley ,
the Rape and looting of the Partnership will start in ernest.
This has always been the Russian Game
Plan. Russia has encouraged foreign investment only to Rape the Investors.
I would encourage disposing of the Investment Now !! before Putin sends in
the Tax Police and your investment is worthless !!

waltky
09-10-08, 06:53 AM

The real power structure in Russia...
;)
How the KGB (and friends) took over Russia’s economy
September 9, 2008: Vladimir Putin put his pals in charge to bring order out of chaos. But will their heavy hand be the ruin of Russia’s boom?

]
Long before the small group of men gained control of a $1.3 trillion economy, they could be found gathered at a lakeshore deep in the forest, trying to relax amid the upheaval of the new Russia. Lake Komsomolskoye, named after the youth wing of the Communist Party, lies about 60 miles north of St. Petersburg, just one of 700 lakes on the isthmus connecting Russia and Finland. There the group, many of whom helped run Russia’s second-largest city, would retreat for weekends among the tall, lakeside cedars in a private compound of dachas, or country houses. Vladimir Putin, then head of external relations for the St. Petersburg mayor, was a member of the group. So was Vladimir Yakunin, who had revived a bank started by the Communist Party, and Igor Sechin, then Putin’s chief of staff. The group called itself ozero, meaning “the lake," and one of its frequent guests was a bright young lawyer named Dmitry Medvedev who worked in the St. Petersburg government. One prime topic of their lakeside conversation back then: how much they disliked the unfolding chaos of Boris Yeltsin’s Russia.

More than 15 years later, many of these same men (and some of their closest friends) now run the country. Since Putin became President in 2000, thanks to President Yeltsin’s unexpected resignation, other members of the lake group have risen to the highest levels in Russian business and politics. Sechin, 47, now chairs Rosneft, the state-owned oil company; Yakunin, 60, heads Russian Railways. And Medvedev, 42, was chairman of Gazprom, Russia’s largest company, until succeeding Putin as Russian President in March. While Putin, 55, stepped into the No. 2 role of Prime Minister, no one doubts that he has extended his regime.

Although Russia’s military incursion into its former republic of Georgia was the most dramatic expression of Russia’s new nationalism, a similar campaign has been gaining momentum in the realm of business. Putin and his pals have moved swiftly to reassert the government’s control over key sectors of the Russian economy, pushing aside - and sometimes punishing - outside investors and many of the so-called oligarchs, the flashy entrepreneurs who grew fabulously wealthy when Yeltsin liberalized the Russian economy. In all, the state has taken back an estimated $100 billion in assets held by private hands in the 1990s, according to analysts. For Putin & Co., business is the new frontier. “These days," says Boris Nemtsov, leader of the largest opposition party in Russia and a former deputy prime minister under Yeltsin, “these guys are all about money as much as anything else."

[url=http://money.cnn.com/2008/09/04/news/international/powell_KGB.fortune/index.htm:

MORE[/url]


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