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TNK-BP downstream head resigns
Tuesday, 26 August 2008, 15:08 IST
Moscow: Russian-British joint venture energy behemoth TNK-BP announced Monday the resignation of the head of its downstream business, Anthony Considine.
"Considine tendered his resignation in a letter dated Aug 25. His resignation will be effective from Sep 15," the firm said in a news release.
The company said Considine was leaving TNK-BP after five years heading TNK-BP's refining, trading and marketing businesses, to pursue other opportunities.
In early August, TNK-BP announced the resignation of its chief financial officer James Owen amid an ongoing shareholder dispute.
BP, which holds 50 percent in TNK-BP, and its Russian billionaire partners have been battling over management and strategy at the joint venture, which is Russia's third largest oil producer and accounts for a quarter of BP's overall output.
Chief executive officer Robert Dudley, who failed to have his Russian visa renewed, is running TNK-BP from abroad.
A Moscow court ruled in mid-August to suspend Dudley from office for two years for violating labour laws.
The four Russian billionaire shareholders have sought Dudley's dismissal, accusing him of acting only in BP's interests. The British oil major said the Russian investors want to seize control of the company.
Source: IANS
Source: IANS