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Russia: Authorities Visit BP Office for 2nd Time

Print E-mail
Thursday, 22 May 2008

Russian security agents raided the Moscow office of BP this week for the second time in two months.  

 

Members of the Russian Federal Security Service (FSB) arrived at the British oil group’s office yesterday morning and began to search for unspecified documents. A BP spokesman in London confirmed that the raid had taken place. “We are co-operating with them fully,” he said. “Our business is carrying on as normal.”

He added that the raid was part of a “continuation of a criminal espionage investigation” that led to similar searches in March at the separate Moscow offices of both BP and TNK-BP.

A Russian employee of TNK-BP was charged with industrial espionage. His brother, who did not work for TNK-BP but who was linked to the British Council, was also detained.

The incident comes amid growing speculation that the Kremlin is trying to force BP’s Russian partners in TNK-BP, its Moscow-based joint venture, to cede control of their 50 per cent stake to a state-controlled company, such as Gazprom.

BP’s office in Moscow employs about 50 people who oversee Russian businesses that have no connection with TNK-BP. They include a joint venture with Rosneft, which has interests in the Sakhalin project in Russia’s Far East.

TNK-BP, which was established in 2003, is half-owned by BP, with the remainder belonging to a consortium of oligarchs Mikhail Fridman, Viktor Vekselberg and Len Blavatnik.

A lock-in agreement that prevented the Russians from selling expired at the end of last year and there has been speculation that Gazprom, the Kremlin- controlled gas monopoly, wants to get an interest. The Kremlin has been seeking to cement its dominant position over Russia’s oil and gas industry.

TNK-BP produces 1.4 million barrels of oil per day, accounting for a quarter of BP’s worldwide production.

PetrolWorld 210508 

 

 
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