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Page last updated at 14:20 GMT, Friday, 30 May 2008 15:20 UK

Split hits BP's Russian venture

Plate on the TNK-BP offices in Moscow
In March, the office of TNK-BP was searched by Russian police.

Russian shareholders in TNK-BP, the Russian oil firm half-owned by British oil giant BP, have called for its American chief executive to resign.

TNK's owners accused him of working only in BP's interests and refused to attend a board meeting on Thursday.

A report suggested the split had emerged as TNK-BP came under pressure to sell to a state energy firm.

There is speculation that either Gazprom or Rosneft want to buy the Russian side of the TNK-BP venture.

The BBC's Moscow Correspondent, Richard Galpin, said the two sides seemed to be at war with each other and that the company had come under intense pressure from Russian authorities in recent months.

TNK-BP's offices in Moscow were raided by security services and one of its employees was accused of industrial espionage.

Foreign staff have also faced problems with visa problems and there is an investigation into alleged tax evasion involving a former unit of TNK-BP.

Last year, TNK-BP was forced to cede control of a Siberian gas project to Gazprom.


SEE ALSO
Russia police raid BP Moscow base
20 May 08 |  Business
Police raid BP offices in Russia
19 Mar 08 |  Business
Lower production hits BP profits
24 Jul 07 |  Business
BP sells Siberia stake to Gazprom
22 Jun 07 |  Business
BP closer to losing its gas field
28 May 07 |  Business

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