In September 2003, British Petroleum (BP) is an international company formed 50/50 joint venture (JV) TNK-BP, a group of Russian investors: Alfa Group, Access Industries and Renova (AAR). This joint venture was created following the merger of Russian oil companies TNK and Sidanko held by the AAR, most Russian oil assets from BP. The May 26, 2008, CEO of TNK-BP, Robert Dudley, told Vedomosti, conducting business in Russia every day, a conflict between the British and Russian shareholders. During this conflict, the AAR said BP TNK-BP treated as a subsidiary and not a joint venture. In addition, the Russian shareholders have criticized the strategic direction of the joint venture and the climate of business expansion. As the conflict intensified, BP management had to decide to walk or continue their participation in the joint venture.
by
Gevork Papiryan
Source: Ivey Publishing
22 pages.
Date Posted: December 10, 2008. Prod #: 908M99-PDF-ENG
BP in Russia: The installation of the solution of the case of Joint Venture disputes
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