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BP's Russian venture TNK-BP dents credit rating

                   
timesonline.co.uk
01-Sep-2008
        
Story Timeline:  94 days

BP's Russian troubles rebounded on the group's reputation yesterday when Standard & Poor's lowered its corporate credit rating for the oil multinational. Citing doubts over the long-term ownership of TNK-BP, S&P cut the rating on BP's corporate debt from AA+ to AA. The agency also said that it had lowered the long-term corporate credit rating of BP Finance to AA- from AA. As S&P cut BP's ratings, it boosted the... [read full story]                    

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Latest article on this story:

BP Concedes To Russian Partners

 freeinternetpress.com 05-Sep-2008
First article on this story:

S&P lowers credit rating of BP, upgrades Shell

 marketwatch.com 01-Sep-2008
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BP's Russian defeat a market victory

atimes.com
05-Sep-2008
        

BP's agreement with its Russian partners over the running of its TNK-BP joint venture marks more than a defeat for the British company and its political chums in Westminster. A footnote to the deal may tell more about...

An uneasy pact made in Prague

ft.com
05-Sep-2008
        

By Catherine Belton in Moscow When BP chief executive Tony Hayward met Mikhail Fridman in a Prague hotel at the end of July, the pressure on BP’s holding in its TNK-BP Russian oil venture had reached fever pitch. Just...

                   

Behind all the smiles at TNK-BP, another oil row looms

timesonline.co.uk
04-Sep-2008
        

The storm has passed, the dark clouds have lifted. BP's bosses join hands with the oligarchs and dance through sun-dappled Siberian meadows. Listening to BP today, you might be forgiven for wondering whether the past six...

                   

Jeremy Warner's Outlook: Russian roulette pays off for BP's Hayward

independent.co.uk
04-Sep-2008
        

Other than the soaraway oil price, not much seems to have gone right for BP in recent years. News that the company's bruising dispute with its partners in Russia has been resolved in a manner which allows BP to salvage...

BP settles dispute with Russian partners

manchestereveningnews.co.uk
04-Sep-2008
        

A LONG-running dispute between BP and the partners in its Russian joint-venture TNK-BP appears to have been resolved. BP and the oligarch shareholders have reached agreement over a new corporate structure for the company,...

                   

Strained relations thaw over TNK-BP

ft.com
04-Sep-2008
        

By Carola Hoyos, Ed Crooks and Catherine Belton Tony Hayward, BP’s chief executive, on Thursday described his fight with the Russian partners of TNK-BP as that of the “immovable object meeting the irresistible force”....

                   

Truce in oil battle between BP and Russian partners

iht.com
04-Sep-2008
        

ECB and British central bank hold interest rates steady As prices plunge, OPEC faces dilemma on oil production The joint venture is a leading Russian oil producer and accounts for about a quarter of BP's worldwide oil...

British Petroleum to end joint venture dispute with Russia

indiaenews.com
04-Sep-2008
        

Energy giant British Petroleum (BP) has moved to resolve its long-standing dispute with Russia over the TNK-BP joint venture and said controversial chief financial manager Robert Dudley would leave his post by the end of...

Investors reach compromise at TNK-BP

rian.ru
04-Sep-2008
        

MOSCOW (AP) - BP PLC and its billionaire Russian partners have reached a deal over TNK-BP, signaling an end to a bitter struggle for control at the Russian-British joint venture, a Russian official said Thursday. Stan...

BP pays price for staying in Russia

ft.com
04-Sep-2008
        

BP on Thursday put a brave face on its deal to end its bitter dispute with the three Russian partners in the TNK-BP joint venture. It is not a great agreement, but in the circumstances it is probably the best deal BP could...

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