The contradiction between Russian and British shareholders of the Russian-British joint venture TNK-BP was further exacerbated on the 4th. The company announced on the 4th that its chief financial officer (CFO) James Owen resigned. Just 10 days ago, TNK-BP president and chief executive Dudley left Russia due to visa issues.
The “Russian Business Daily†and other media commented that the management system of TNK-BP has begun to collapse, corporate governance issues have accumulated, and the corporate crisis has further intensified.
President Remote Control Management Company
On the 4th, Irving submitted a letter of resignation to the company’s president and chief executive officer, Dudley, and the company’s board of directors, stating that he will completely leave the company by the end of August.
TNK-BP said in the announcement that Irving explained the reasons for his resignation in the letter that the current conflicts between shareholders prevented him from performing his duties as a CFO. He cannot make any decision, nor can he sign any documents.
The announcement pointed out that Dudley regrets Owen’s decision. Dudley said: "Many people, including myself and TNK-BP, regretted the loss of James. He is an international financial expert with rich experience and respect. He is an important member of TNK-BP's management team. He serves as CFO. During this period, the company’s financial status was clearly consolidated and the company’s financial management process was improved. We can hardly replace him and sincerely wish him success.â€
In fact, Dudley expired on July 27 for a working visa. At present, he can only manage TNK-BP remotely. But the outside world does not know where Dudley is now. Tony Hayward, chief executive of BP, said in London on July 29th that Dudley is currently on vacation in Central Europe and his position will be open in recent days. This is not a big secret.
The British media recently revealed that Dudley used "unusual" means to conceal their position, including a wide range of preventive measures to avoid the leakage of telephone and e-mail communications.
Regarding whether Dudley can return to Russia, Assistant Secretary of the Russian Federal Immigration Bureau Artamonov stated on the 5th that there will not be any artificial factors that hinder Dudley from returning to Russia. He added that if Dudley can provide a valid labor contract, the Russian Federal Immigration Service will not prevent Dudley from returning to Russia. As for "BP's recall of experts and technicians from Russia", Altamonov believed that this was their company's own business.
It should be pointed out that the prosecutor's office of the Central Administrative Region of Moscow also issued a summons to Dudley on July 28th to investigate and question its "administrative violations."
Visa Breaching British Employees
The issue of working visas is not limited to Dudley.
It is undeniable that both TNK-BP and Russian shareholders have different views on company management and strategy, but the large number of TNK-BP's employment of foreign experts is also one of the main differences between the Russian shareholders and the British shareholders.
The intensification of the contradictions led BP to announce on July 22 that it will recall 60 experts and technicians from Russia. The British stated that due to visa issues, these employees could not perform their duties properly and this situation may not be resolved in the near future.
It is understood that visa issues have been plaguing TNK-BP for a long time. In April, TNK-BP had 150 British employees who lost their right to work in Russia due to visa issues; another 148 visa problems occurred in May; BP recalled 60 national experts and technicians for visa issues from June to July. Li also subsequently left Russia due to visa issues.
However, the press secretary of the Immigration Bureau of the Russian Federation, Portarannin, said on the 4th that they have issued visas to 66 British employees. "For us, there will be no problems in issuing visas. Everything is in accordance with the Russian judiciary," Portalanien stressed.
BP express compromise intention
In order to ease the intensifying conflict, TNK-BP Russian shareholder Friedman and BP CEO Hayward finally held their first secret meeting with the company on Wednesday in London.
Russia's "Zorobe" was informed that in order to solve the problem, BP may have to "sacrifice" Dudley. The current compromise between the two parties is: BP agreed to withdraw Dudley, and in accordance with the requirements of the Russian shareholders, the TNK-BP board of directors Re-established, and then re-elected an independent director management company. It should be noted that BP has "saved it" that Dudley has insisted and opposed the Russian shareholders for half a year. In exchange, Russian shareholders Khan and Weikesselberg may be forced to leave.
The British government was extremely dissatisfied with Russia’s performance in the infighting of TNK-BP. A spokesman for the British Foreign Ministry said on July 25 that the British Foreign Office was very disappointed with Dudley’s departure from Russia and that the departure of Dudley from Russia could greatly harm the Russian economy and the world’s energy situation, especially in the current very lack of energy experts and the world. At the moment of energy, shareholders' manipulation of the representatives of Russian state bureaucracies and the practice of allowing these manipulations to continue are very disappointing.
However, Russian Presidential Assistant Dvorkovich said last week that TNK-BP's business in Russia does not pose any risk. Shareholders should decide for themselves what they will continue to do.
Or will reduce the investment plan
The disagreement between TNK-BP and its shareholders in the company's strategy and management may cause the company to change its investment plan.
Dudley said on July 30 that some members of the TNK-BP Board of Directors proposed to reduce the company’s investment plan by US$900 million. Dudley believes that the investment level determined by the board of directors last November is most suitable for maintaining oil production, safe production, and investing in new projects to ensure future growth. TNK-BP's previous investment plan for 2008 was estimated to be about US$4.4 billion.
The “Russian Business Daily†and other media commented that the management system of TNK-BP has begun to collapse, corporate governance issues have accumulated, and the corporate crisis has further intensified.
President Remote Control Management Company
On the 4th, Irving submitted a letter of resignation to the company’s president and chief executive officer, Dudley, and the company’s board of directors, stating that he will completely leave the company by the end of August.
TNK-BP said in the announcement that Irving explained the reasons for his resignation in the letter that the current conflicts between shareholders prevented him from performing his duties as a CFO. He cannot make any decision, nor can he sign any documents.
The announcement pointed out that Dudley regrets Owen’s decision. Dudley said: "Many people, including myself and TNK-BP, regretted the loss of James. He is an international financial expert with rich experience and respect. He is an important member of TNK-BP's management team. He serves as CFO. During this period, the company’s financial status was clearly consolidated and the company’s financial management process was improved. We can hardly replace him and sincerely wish him success.â€
In fact, Dudley expired on July 27 for a working visa. At present, he can only manage TNK-BP remotely. But the outside world does not know where Dudley is now. Tony Hayward, chief executive of BP, said in London on July 29th that Dudley is currently on vacation in Central Europe and his position will be open in recent days. This is not a big secret.
The British media recently revealed that Dudley used "unusual" means to conceal their position, including a wide range of preventive measures to avoid the leakage of telephone and e-mail communications.
Regarding whether Dudley can return to Russia, Assistant Secretary of the Russian Federal Immigration Bureau Artamonov stated on the 5th that there will not be any artificial factors that hinder Dudley from returning to Russia. He added that if Dudley can provide a valid labor contract, the Russian Federal Immigration Service will not prevent Dudley from returning to Russia. As for "BP's recall of experts and technicians from Russia", Altamonov believed that this was their company's own business.
It should be pointed out that the prosecutor's office of the Central Administrative Region of Moscow also issued a summons to Dudley on July 28th to investigate and question its "administrative violations."
Visa Breaching British Employees
The issue of working visas is not limited to Dudley.
It is undeniable that both TNK-BP and Russian shareholders have different views on company management and strategy, but the large number of TNK-BP's employment of foreign experts is also one of the main differences between the Russian shareholders and the British shareholders.
The intensification of the contradictions led BP to announce on July 22 that it will recall 60 experts and technicians from Russia. The British stated that due to visa issues, these employees could not perform their duties properly and this situation may not be resolved in the near future.
It is understood that visa issues have been plaguing TNK-BP for a long time. In April, TNK-BP had 150 British employees who lost their right to work in Russia due to visa issues; another 148 visa problems occurred in May; BP recalled 60 national experts and technicians for visa issues from June to July. Li also subsequently left Russia due to visa issues.
However, the press secretary of the Immigration Bureau of the Russian Federation, Portarannin, said on the 4th that they have issued visas to 66 British employees. "For us, there will be no problems in issuing visas. Everything is in accordance with the Russian judiciary," Portalanien stressed.
BP express compromise intention
In order to ease the intensifying conflict, TNK-BP Russian shareholder Friedman and BP CEO Hayward finally held their first secret meeting with the company on Wednesday in London.
Russia's "Zorobe" was informed that in order to solve the problem, BP may have to "sacrifice" Dudley. The current compromise between the two parties is: BP agreed to withdraw Dudley, and in accordance with the requirements of the Russian shareholders, the TNK-BP board of directors Re-established, and then re-elected an independent director management company. It should be noted that BP has "saved it" that Dudley has insisted and opposed the Russian shareholders for half a year. In exchange, Russian shareholders Khan and Weikesselberg may be forced to leave.
The British government was extremely dissatisfied with Russia’s performance in the infighting of TNK-BP. A spokesman for the British Foreign Ministry said on July 25 that the British Foreign Office was very disappointed with Dudley’s departure from Russia and that the departure of Dudley from Russia could greatly harm the Russian economy and the world’s energy situation, especially in the current very lack of energy experts and the world. At the moment of energy, shareholders' manipulation of the representatives of Russian state bureaucracies and the practice of allowing these manipulations to continue are very disappointing.
However, Russian Presidential Assistant Dvorkovich said last week that TNK-BP's business in Russia does not pose any risk. Shareholders should decide for themselves what they will continue to do.
Or will reduce the investment plan
The disagreement between TNK-BP and its shareholders in the company's strategy and management may cause the company to change its investment plan.
Dudley said on July 30 that some members of the TNK-BP Board of Directors proposed to reduce the company’s investment plan by US$900 million. Dudley believes that the investment level determined by the board of directors last November is most suitable for maintaining oil production, safe production, and investing in new projects to ensure future growth. TNK-BP's previous investment plan for 2008 was estimated to be about US$4.4 billion.
Regulator For V-5A,9Kg Lpg Regulator,Medical Oxygen Regulator Cga 540,V-5A Low Pressure Camping Regulator
Jiangsu Minnuo Group Co., Ltd. , https://www.minnuocm.com