BP, Russian partners situate TNK enigma Reuters

BP has agreed to a figure of its partners' demands, including the replacement of TNK-BP Manager Executive Bob Dudley with BP's election of an experienced, Russian-speaking nominee and the appointment of independent directors.

The British oil corporation and its partners said in seperate statements they had signed a memorandum of kind which would be finalized in the future months. BP shares rose 3.6 percent on copy of the deal after the dispute, which threatened BP's affliction in the Russian firm, had weighed on BP inventory in virgin months.

We've retained the shareholder treaty that we agreed five second childhood ago relatively intact," BP Chief Executive Tony Hayward told Reuters in a bell interview. We conceive this provides the platform for the adjacent episode in its (TNK-BP's) developing and we bad eye forward to continuing to grow," he added.

BP had accused its partners of orchestrating a crusade of polity harassment against TNK-BP and its officers as a money of securing authority of what is Russia's third-largest oil producer. Continued.. Thomson Reuters journalists are paragraph to an Editorial Handbook which requires genuine presentation and disclosure of important interests.

NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes.