BP

Russia says TNK-BP must let Gazprom into Kovykta
Thu Dec 21, 2006 2:39 PM GMT
MOSCOW, Dec 21 (Reuters) - BP's (BP.L: Quote, Profile , Research) Russian oil venture TNK-BP must accommodate gas monopoly Gazprom into its giant Kovykta gas project or face new sanctions for licensing non-compliance, a Russian official said on Thursday. TNK-BP (TNBPI.RTS: Quote, Profile , Research), a joint venture between Britain's BP and a group of Russian billionaires, is the main shareholder in Rusia Petroleum, which has the licence to operate Kovykta.

Under the licensing agreement, the firm should produce nine billion cubic metres of gas next year. ...................................