At the intersection of technology, finance and the Pacific Rim.

Saturday, July 26, 2008

BP in Russia

The IHT reports on the latest of the BP's travails in Russia:

The British energy giant BP moved closer to losing control of its joint venture
in Russia after the operation's chief executive was forced to leave the country
Thursday because he could not get a work visa.

The development is the
latest twist in a rising nationalism that is shutting Western oil companies out
of energy-rich regions and has wide implications for BP, which pumps about a
quarter of its worldwide oil output in Russia.

While BP retains
ownership of 50 percent of the TNK-BP venture, the departure of the executive,
Robert Dudley, an American, will probably lead to the passing of greater
operational control to the Russian partners.

And for a look at how time passes and changes, go here.


Anonymous KY Choi said...

I've been working for the Russia project since early this year. This project relates to the naturual resources development in one of Russia's self government. Surely I can sense that Russians don't like the Western influence in their territory...but, they still require big cash from outside world to develop their infrastructure...Could Koreans get a better position than the westerners in this area as we don't have much political interests with Russians? Or, their way of business has less conflicts with Korean ways?

4:10 PM  

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