BP's Tenuous Stake in Russia

So sour have relations become between BP executives and TNK-BP's Russian investor's that it's tempting to see a speedy exit from Russia as the British oil major's best option. BP paid $6.75 billion for 50% of TNK-BP in February 2003, when oil prices were nudging $40 a barrel; today, they're nearer $130. The expiration of the lock-up agreement between the joint venture's shareholders has given the Kremlin an opening to tighten its grip on the oil and gas sector.