Earlier this month, the company sold its half of Anglo-Russian joint venture TNK-BP to Rosneft in exchange for $12.3 billion net cash and a 18.5% stake in the Russian company.
Speaking to journalists after the company announced a third-quarter profit surge, Dudley admitted the prolific TNK-BP venture had been “a great investment for BP and its partners”.
However, he said that “the partnership seems to have run its course”, in a veiled reference to long-running management disputes with co-owners the Alfa-Access Renova consortium of four Russian billionaires.
“BP
