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Kremlin pledges to stay out of TNK-BP shareholders' row

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The Russian leadership does not intend to intervene in an ongoing dispute between shareholders of Russian-British oil venture TNK-BP, a Kremlin aide said on Sunday.
ST. PETERSBURG, June 8 (RIA Novosti) - The Russian leadership does not intend to intervene in an ongoing dispute between shareholders of Russian-British oil venture TNK-BP, a Kremlin aide said on Sunday.

The company, jointly owned by British oil major BP and a handful of Russian tycoons, is currently caught up in a dispute between Russian and British shareholders over company strategy, which has sparked rumors that natural gas monopoly Gazprom will step in and buy up a stake. (VIDEO)

Presidential economic adviser Arkady Dvorkovich, speaking at the International Economic Forum in St. Petersburg, said: "We will not interfere in this. I hope that the shareholders solve these problems as soon as possible."

"I do not believe that these problems are irreconcilable," he added.

In response to the media rumors, a source in Gazprom told RIA Novosti that the company has no plans to buy a stake in TNK-BP.

"Gapzrom will not buy, because nothing could be worse than this," he said.

On the dispute between the shareholders, he said: "Let them fight it out themselves."

TNK-BP CEO Robert Dudley said on Saturday he was sure a dispute between the shareholders would be resolved in the next few days.

Founded in 2003, TNK-BP is Russia's third-largest oil producer, and is jointly owned by BP with 50%, Russia's Alfa Group with 25%, Viktor Vekselberg's Renova with 12.5%, and Leonard Blavatnik's Access industries with 12.5%.

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