Financial Times FT.com

Moscow ready to revoke licence for BP Russian venture 'in days'

By Catherine Belton in Moscow

Published: May 22 2007 03:00 | Last updated: May 22 2007 03:00

Moscow ratcheted up pressure on BP's Russian venture yesterday, warning that TNK-BP could see the licence for its vast Kovykta gas field revoked within "amatter of days".

Oleg Mitvol, head of Russia's environmental watchdog, said his agency would open a probe tomorrow into whether TNK-BP was meeting licence terms to develop the east Siberian field - as a three-month deadline passed for production there to be boosted to 9bn cubic metres in line with requirements.

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