This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Ganging up on BP?

13 August 2008

As if BP hasn’t got enough problems with its operations in the former Soviet Union, a Moscow court was reported on Thursday (August 14) as having suspended Robert Dudley as chief executive of TNK-BP. The suspension will run for two years, which must be a massive blow to BP’s involvement in Russia’s second largest oil company.

Has BP boss Tony Hayward got more problems?
Has BP boss Tony Hayward got more problems?

BP said it would appeal against the decision, insisting that Dudley remained chief executive and would continue to run the company from a secret location outside Russia until the appeals process had been exhausted.

The court decision came amid an intense public battle for control over the 50/50 partnership between BP and its Russian shareholders, Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik.

BP was, not unsurprisingly, ‘very disappointed’ by the decision and claimed that Dudley had the company’s full support. In an e-mailed statement, Dudley suggested that this was another example of the administrative interference, he has been experiencing since he left Russia.

Russian shareholders have in the past denied any connection to the inquiries and investigations targeting the company. BP can appeal against the decision but a court review could be months away.

Dudley has been running TNK-BP from a secret location since he fled Russia last month citing concerns over systematic harassment as the dispute over strategy, planning and the running of the company escalated.

Tony Hayward, BP chief executive (pictured right) said last month that Dudley could remain at the head of the company while outside Russia only for a matter of months.

It would be good to hear from readers who have had experiences in the field, especially when operating in the more volatile areas of the World or perhaps have a view on BP’s operations.

To comment, please click the link below

More information...

Print this page | E-mail this page