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BP’s CEO Returns To Russia – After ‘Rift’

From The Australian:

New BP CEO seeks to mend Russian rift

Robin Pagnamenta and Leo Lewis
August 04, 2010

BP’s new CEO will arrive in Russia for the first time since a bitter row with a venture partner forced him to flee the country in 2008.

In a visit to Moscow today aimed at repairing BP’s delicate relations in Russia – the source of 25 per cent of the company’s global oil and gas production – Bob Dudley is travelling with Tony Hayward, his predecessor, for talks with Igor Sechin, the Russian Deputy Prime Minister, as well as other business partners.

They are thought to include Mikhail Fridman and Viktor Vekselberg, two of the key members of the AAR consortium of four Soviet-born oligarchs that is BP’s 50-50 partner in TNK-BP, Russia’s third-largest oil producer.

"Oligarchs" is far too polite. The gentlemen who have cornered the Russian oil business are the thugiest of a nation of thugs.

By the way, Messrs Fridman and Vekselberg are two of the richest men in the world. Mr. Dudley is just a salaried BP employee. Mr. Fridman is also Vladimir Putin’s ‘judo partner.’

Mr Dudley, TNK-BP’s American former chief executive, is well known to both men.

In July 2008, he left Russia and went into hiding after what BP claimed was a campaign of intimidation against him and other senior non-Russian officials at TNK-BP, which left them without visas.

He spent several months running TNK-BP remotely from an undisclosed location before AAR, which denied accusations of harassment, secured day-to-day management control.

Last week, Mr Dudley sought to play down the 2008 row, which he said had been "just business".

Yes, it sounds like "just business." But to be fair, at least the Russians didn’t try to shake down BP for $20 billion dollars. Just look at what we have driven BP to.

As well as trying to repair the rift, those present are likely to discuss plans to sell some of BP’s assets in Venezuela to TNK-BP, which produced 968,000 barrels of oil per day for BP in the first half of 2010 and is highly lucrative for both sides. BP’s share in TNK-BP’s net profit for the first half of 2010 grew by 52 per cent to $1.033 billion…

What a win-win.

For Russia and Hugo Chavez.

This article was posted by Steve on Wednesday, August 4th, 2010. Comments are currently closed.

3 Responses to “BP’s CEO Returns To Russia – After ‘Rift’”

  1. proreason says:

    Let’s not forget that only a few people correctly diagnosed the true environmental impact of the Deepwater Horizon spill.

    Rush Limbaugh is the best known.

    But Rush may just have been listening to a genius geologist who earned a Phd from Edinburg University at the age of 22. In the first few days of the spill, he said that the environmental impact would be minor because the oil from Horizon was light crude. The guy’s name was Tony Hayward.

    http://news.bbc.co.uk/2/hi/business/6257149.stm

    • Right of the People says:

      But Pro, Rush is just a far right wing whacko, he’s not certified by the Bamster and his thugs to disseminate information to the masses.

      I mean who are you going to believe, the smartest man in the world or some right wing extremist who wants the Bamster to fail? (sarc)

  2. Helena says:

    “Mr Dudley… left Russia and went into hiding after .. a campaign of intimidation against him… He spent several months running TNK-BP remotely from an undisclosed location before AAR, which denied accusations of harassment, secured day-to-day management control. … Last week, Mr Dudley sought to play down the 2008 row, which he said had been “just business”.

    Talk about your hostile takeover. They try to murder him and he’s willing to go back there? AND say to the press it was “just business”? Remind me not to go into that business. I hope Dudley’s got his escape route well thought out for the next “business discussion.”


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