Russian shareholders in tnk-bp are locked in an increasingly bitter boardroom battle with bp. Much of the commentary on rosneft's buy out of russian oil group tnk-bp has focused on the size of the deal that makes rosneft the world's largest publicly- traded energy company and a new national champion less has been said about why russia's leadership has chosen this path and why bp's tie up.
Full-text paper (pdf): tnk-bp: tread with caution | researchgate, the professional network for scientists. (reuters) - hrt hrtp3sa agreed to sell a 45 percent stake in 21 amazon oil blocks to anglo-russian tnk-bp tnbpmm for $1 billion, the brazilian start-up company said on monday the deal represents a step forward in tnk-bp's expansion beyond russia, where the state has curbed private company.
Bp's joint venture looks close to collapse again, with tycoon's move seen as start of russian attempt to seize control.
But investing in the russian oil and gas sector has often been a bruising experience for foreign companies – and none more so than uk-based oil major bp, which is currently on the verge of exiting its moscow-based joint venture, tnk -bp while tnk-bp has accounted for more than one-quarter of bp's.