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Page last updated at 08:05 GMT, Friday, 1 June 2012 09:05 UK

TNK was 'crown of thorns' for BP


BP announced that they intend to sell their 50% stake in Russia's third largest oil producer, TNK.

Nick McGregor, oil analyst at stockbrokers Redmayne Bentley, told the Today programme that the sale was "inevitable".

Speaking to Business presenter Simon Jack, he said that TNK had been the "jewel in the crown" for BP in terms of the cash it generated but was "a crown of thorns" with the problems it caused over the past years.

He believes that the case "shows you need to have politicians on your side to do business in Russia or it will make life very difficult".

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