BP Committed To Russia Despite Plan To Sell TNK-BP Stake - CEO
06/13/2012| 07:11am US/Eastern
By Alexis Flynn
LONDON--BP PLC (BP) plans to remain in Russia despite earlier this month announcing it intends to sell its half of the TNK-BP joint venture, Chief Executive Bob Dudley said Wednesday.
"We remain committed to Russia," said Dudley. "We have other businesses in Russia beside TNK-BP."
BP on June 1 said it would seek to divest its 50% stake in the joint venture, Russia's third-largest oil producer. Dudley said "nothing had changed" since the announcement.
BP and its joint venture partners, a group of Russian oligarchs known as the Alfa Access Renova consortium, have split dividends totaling $38 billion since 2003.
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