TNK-BP
What seemed a cruel mismatch between a £100bn company and an obscure alliance of energy and telecoms interests has been resolved
Maxim Barsky approved by both sides as the new permanent chief executive for the troubled venture
Credit Suisse said it had launched a bookbuild to buy minority shares for TNK-BP in Sibir Energy, an Aim-listed group
TNK-BP has appointed two new members to its board as it continued the stabilisation process following a dispute last year that rocked the Anglo-Russian venture
The oil group has appointed Robert Dudley, the former chief executive of its Russian joint venture, to the board
An about-face by Russian shareholders of the joint oil venture with BP has led to the reopening of the search for a new independent chief executive
What seemed a cruel mismatch between a £100bn company and an obscure alliance of energy and telecoms interests has been resolved

Oil companies often have little choice about investing in difficult countries. Many other investors can afford to look elsewhere
TNK-BP has the best performance record in the Russian oil industry on almost all measures on which serious investors focus, writes Lord Robertson
Legal investigations and uncertainty over work permits for foreign executives at the British company’s joint venture will be a test for the Kremlin and could have serious implications for the oil group’s future