Apologies to our readers, but we’ve had to delay the planned Q&A session with the CME Group. We hope to be able to publish it on Monday, so keep watching this site.
All four BP-nominated directors failed to turn up for an extraordinary meeting of TNK-BP’s board on Friday, torpedoing a crucial vote on whether the Russian oil venture should participate in the UK oil group’s alliance with Rosneft.
“The board was not able to vote because the BP directors did not show up,” said Stan Polovets, chief executive of AAR, BP’s Russian partners in TNK-BP. “There was no quorum.”
The no-show by BP raises the stake in a stand-off between BP and the Russian billionaire partners in TNK-BP who claim BP’s alliance with Rosneft, the state-controlled oil company, is a breach of their shareholder agreement with BP.