Jonathan Muir News
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BP Plc was ordered to pay TNK-BP, its joint Russian venture with a group of billionaires, 100.4 billion rubles ($3.1 billion) in damages over a failed deal with oil producer OAO Rosneft.
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TNK-BP, BP Plc’s Russian venture with a group of billionaires, will pay $200 million to HRT Participacoes em Petroleo SA in October as planned even as the Russian oil producer lacks a functioning board of directors.
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TNK-BP’s shareholders are planning to meet on after the incomplete board of Russia’s third-biggest oil producer failed to gather for almost seven months, according to Chief Financial Officer Jonathan Muir.
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TNK-BP International Ltd., the Russian oil venture owned by BP Plc and a group of billionaires, said first-quarter profit fell 17 percent as taxes and costs rose amid production gains at new fields.
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TNK-BP, the Russian venture of BP Plc, appointed Jonathan Muir as chief financial officer and BP’s Didier Baudrand as executive vice president in charge of refining and marketing.
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TNK-BP, the Russian oil venture half- owned by BP Plc, plans to boost capital expenditures to $5 billion this year, Chief Financial Officer Jonathan Muir said.
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TNK-BP, BP Plc’s Russian venture with a group of billionaires, will boost capital spending on new projects in 2012 and 2013 after posting record profit last year.
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TNK-BP , the Russian oil venture half owned by BP Plc, can raise the financing it may need to replace the U.K. explorer in an alliance with state-run OAO Rosneft, said Chief Financial Officer Jonathan Muir .
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TNK-BP, BP Plc’s Russian oil venture with a group of billionaires, plans to borrow $1.5 billion from banks next month, Chief Financial Officer Jonathan Muir told reporters in Moscow today.
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TNK-BP International Ltd., BP Plc’s venture with Russian billionaires, said profit rose 25 percent in the third quarter from the previous three months after selling inventories and benefiting from a weaker ruble.
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