The Russian government is continuing with its policy of taking control of strategic sectors, of which energy is one.
BP would be advised to play along and get as much as it can get, or leave Rusia altogether.
Is there any forum where private companies would be able appeal against unilateral Russia moves against private capital that they initially allowed to enter and encouraged?
Onésimo Alvarez-Moro
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When BP announced a landmark investment of $6.15 billion in Russia in 2003, the event was celebrated with a healthy dose of British pomp and circumstance.
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Chief’s Departure Ignites Criticism of BP’s Structure and Environmental Policies (January 16, 2007)
President Vladimir V. Putin flew to London for the announcement of a joint venture, standing with Prime Minister Tony Blair of Britain, who called the deal a “concrete testament” to Britain’s long-term confidence in Russia. BP’s chief executive, John Browne, who announced his retirement unexpectedly on Friday, was personally instrumental in brokering the deal.
In some measures, that may have been the high water mark for the joint venture. TNK-BP, as the venture is known, has already suffered many setbacks and is excluded by national security rules from developing large new fields. Now BP may be forced to cede some control over the venture, analysts and investors say, as the Russian government steps up control of its natural resources.
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