TURMOIL AS BOSS AT TNK-BP QUITS

Arbitration continues between BP and TNK

Saturday October 22,2011
http://www.express.co.uk/posts/view/278901/Turmoil-as-boss-at-TNK-BP-quits

THE deputy chief of TNK-BP is quitting as co-owners of the joint venture wage a legal battle over BP’s failed bid to link with oil major Rosneft.

Maxim Barsky, 37, is leaving after failing to win the top job at TNK-BP. Mikhail Fridman will continue until the end of 2013.

Arbitration continues between BP and TNK to decide if BP is liable for damages suffered by TNK-BP after it was left out of the BP-Rosneft deal.

Some TNK shareholders claimed it violated a deal requiring TNK-BP to be the vehicle for BP’s ventures in Russia.

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