A court in Russia said it agreed to a new hearing in a $13 billion case against British oil major BP for a shelved deal with Rosneft for work in arctic waters.
British petroleum giant BP said Friday it was considering offers for TNK-BP, a joint project in Russia that accounts for 25 percent of its oil output.
British energy company BP said it notified its Russian counterparts in joint venture TNK-BP of its interest in pursuing a potential sale of its stake.
Investors said the latest shake-up at the board of Russia's joint venture with BP suggests a breakup could be in the works.
Russian-British oil joint venture TNK-BP announced it bought a 45 percent stake in a Brazilian oil company working in the Amazon River basin.
TNK-BP, a Russian joint venture with BP, scrapped a multibillion-dollar claim against BP a day before the British company said its profits rose.
Former BP chief Tony Hayward told the board of directors at joint venture TNK-BP he was stepping down from his post to pursue other opportunities.
Anglo-Russian venture TNK-BP announced BP executive Bill Schrader will take over as chief operating officer in the fourth quarter, replacing Tim Summers.
There have been enough inspections into TNK-BP and the activity should cease, Russian President Dmitry Medvedev said following a meeting of the consortium.
The Russian shareholders of the jointly owned TNK-BP held a meeting Monday to try to remove the company boss from his office in Moscow, officials said.
United Press International