Russian oligarch Mikhail Fridman resigned as chief executive of oil producer TNK-BP, a joint venture with BP which has repeatedly clashed with the billionaire, the company said in a statement on Monday. "Mikhail Fridman has submitted a letter of resignation to TNK-BP Ltd.'s board of directors, notifying his resignation from the position of chief executive officer of the TNK-BP Group," the statement said. Fridman also resigned from the post of chairman of the management board of TNK-BP Management, TNK-BP Group's subsidiary which operates assets in Russia and Ukraine. The resignations will take effect in 30 days, the company added. TNK-BP is owned 50 percent by BP and 50 percent by a group of Russian billionaires known as Alfa-Acess-Renova (AAR) which includes Fridman. The two other AAR shareholders -- German Khan and Victor Vekselberg -- stay on as executive directors and members of the management board, the company said without providing further details. TNK-BP operation of huge oil fields in Siberia makes it one of the crown jewels for the British firm and accounts for a quarter of its total production. TNK-BP has been dogged by boardroom disputes for the past few years. Last year, AAR prevented BP from completing a historic tie-up with state-owned Rosneft arguing that it would break their shareholder agreement.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor