'It's business as usual,' Fridman says

Mikhail Fridman, one of the four billionaires partnering BP in the TNK-BP venture, claimed today that there was "nothing special" in the increased attention the joint venture has attracted from the Russian authorities, adding that he and his partners were not attacking BP, merely trying to protect their interests.

"If you work in Russia you should know that it is common practice for chief executives to be questioned on tax issues, on compliance with labour legislation and so on," he told the BBC World Service's Business Today programme in an interview.

"It is probably very different from the practice in other countries, but in Russia it is routine. There is nothing very special in this situation."

He also told the BBC that he and the other billionaires - Viktor Vekselberg, German Khan and Len Blavatnik - had not intended to provoke the increasingly bitter row with BP, but were merely acting to protect their interests.

He also denied any Kremlin involvement in the dispute.

"The Kremlin is not involved at all - and it will not intervene for the private interests of a group of shareholders like us," he said.

"I would not like to be an advocate for our legal system, but what we are doing right now is trying to protect our interests in a purely legal way. It is the appropriate way for us, the shareholders, to act."

However, Fridman added: "As businessmen in our country, we have some contact with the authorities. It is very natural. I do know that no one in the government is happy about the dispute as it harms Russia's image."

He also told the BBC that he and the other shareholders were concerned that if the row was not settled soon, it would further damage the company as a whole.

"(TNK-BP) belongs to us as much as BP - why would we make trouble for our own company?" Fridman said.

Fridman also rejected speculation that the Kremlin was hoping to claw back the 50% BP holds in the venture.

"This is absolutely not the case," he said. "According to my conversations with the authorities, they have no intention of pushing BP or ourselves out. They do not want Gazprom or Rosneft in place. What they prefer is a successful joint venture which would be a powerful platform for fast development in Russia and outside Russia.

"This was our goal from the beginning, and BP's as well. We want a strong, powerful platform for business development and all our efforts are focused on this goal," Fridman added.

Fridman, Vekselberg, Khan and Blavatnik have called on TNK-BP chief executive Robert Dudley to step down, claiming that he is not acting in the best interests of the joint venture.

The four want an independent chief executive at the helm of the company, with Fridman today adding that the board structure - five of its 10 members are appointed by BP, the other five by the billionaires - does not include any mechanism to resolve a deadlock on the board.

He claimed that appointing "one, two or three" independent members who have no connection to either of the joint venture's partners would be in the company's best interests.

When asked if he believed Dudley should step down, Fridman replied: "I think for the time being, we, as 50% shareholders don't trust him as an independent chief executive."

He added: "I have no personal problem with Dudley. I like him, he is good and professional. But he follows direct orders from BP and this is unacceptable for the chief executive of an independent company."

BP declined to comment on Fridman's claims, later releasing a statement saying it had full confidence in Dudley.

The supermajor added his appointment was approved unanimously by TNK-BP's board and that Dudley represented the interests of all the company's shareholders.

Meanwhile, Fridman told Reuters in an interview that he and fellow Russian shareholders would not sell out for at least two years and will now put more pressure on their partner, BP, to achieve their goals of boosting performance.

Fridman said he believed one of the main reasons for a public corporate war at TNK-BP between BP and the Russian co-owners was BP's attempt to squeeze him and his Russian partners out with the help of state gas monopoly Gazprom.

"I'm prepared to make a bet. Gazprom will not buy and Rosneft will not buy these shares within, let's say, two years," Fridman told the news agency.

"What I've learnt from my relations with BP is that without pressure they will not react," he said.

Asked if BP should expect more pressure now, Fridman replied: "Yes."