BP, Billionaires Clash Over TNK-BP CEO Dudley

BP Plc and its Russian partners clashed this month as billionaire Viktor Vekselberg sought to take over the top post at oil venture TNK-BP, Kommersant said, citing unidentified people close to the owners.

BP Chief Executive Officer Tony Hayward refused to replace TNK-BP CEO Robert Dudley, although Vekselberg and Alfa Group billionaire Mikhail Fridman haven't dropped the issue, the newspaper said.

TNK-BP spokeswoman Marina Dracheva declined to comment on the Kommersant report, referring questions to the shareholders. BP spokesman Vladimir Buyanov said he couldn't immediately comment. Vekselberg spokesman Andrei Shtorkh didn't immediately reply to telephone and e-mail requests for comment.

BP and its Russian partners have clashed over the number of foreigners working at the company and the pace and volume of investments in projects outside Russia, Dudley said in an interview yesterday in Vedomosti, which Dracheva confirmed.

Source: Bloomberg

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