Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Tnk-Bp Essay

Open Document

Below is an essay on "Tnk-Bp" from Anti Essays, your source for research papers, essays, and term paper examples.

The year 2011 will go down in global corporate history as the year when one of the
world’s largest energy companies, BP, and the Russian state company, Rosneft,
unsuccessfully attempted to form a strategic partnership on Arctic development. This
failure was caused by the contractual and legal objections of the AAR consortium -
BP’s partners in the Russian oil company TNK-BP. In 2003-5, BP and the AAR
consortium led by three billionaires with Russian connections - Mikhail Fridman, Len
Blavatnik, and Viktor Vekselberg - merged their Russian oil corporate assets - TNK,
Sidanko, and Onako and their subsidiaries - under the umbrella of TNK-BP.2 This
joint venture was established on a 50/50 basis, the operation of which required mutual
joint decision making. The partners also signed a shareholding agreement on TNK-
BP’s right of first refusal in relation to potential future oil and gas projects offered to
BP or AAR in Russia and Ukraine. This agreement was subsequently used by AAR to
stop the BP-Rosneft deal in international courts.

Unfortunately, this was not the first time that BP had been unable to change the way it
conducted its business in Russia. The first example occurred in 2007-8 when BP was
reported to be keen on having Gazprom as a partner instead of AAR. This move
would have transformed the TNK-BP joint venture into Gazprom-BP. This did not
transpire.   Second,   in   the   spring-summer 2008,   there   was   a   turbulent
‘misunderstanding’ between BP and AAR, over the corporate governance and future
strategy of their joint venture. This led to the removal of Robert Dudley from the helm

1 Shamil Yenikeyeff is a Research Fellow at the Oxford Institute for Energy Studies and a Senior
Associate Member at the Russian and Eurasian Studies Centre, St Antony’s College, University of
Oxford. Dr Yenikeyeff is the author of The Battle for Russian Oil: Corporations, Regions and the
State, a forthcoming book on the...

Show More


MLA Citation

"Tnk-Bp". Anti Essays. 14 Dec. 2018


APA Citation

Tnk-Bp. Anti Essays. Retrieved December 14, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Tnk-Bp-383135.html

Rail Wars! | Generating a Business Idea with Limited Funds: Activity | Garo: Kami no kiba (2017) [BluRay] [720p] [YTS] [YIFY]