Financial Times FT.com

Outline deal close on TNK-BP shake-up

By Carola Hoyos in London

Published: August 27 2008 23:08 | Last updated: August 27 2008 23:08

BP and its Russian partners in TNK-BP could have an outline agreement about how to restructure the management of the company by the time the Russian oil company’s board meets at the end of September, but a detailed accord is expected to take longer.

At stake, at the very least, is the management structure of the company and who will fill the position of Bob Dudley, TNK-BP chief executive, who last month fled Russia citing systematic harassment and has since been barred from running the company by a Moscow court.

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