Possible resolution for visa situation for TNK-BP personnel

As tensions mounted between British company BP and their Russian joint venture partner TNK-BP over visa concerns it appears a resolution is in the works. The issue began when BP asked its Russian counterparts to apply for 150 visas for about 100 permanent employees.  The application for the visas was submitted only asking for 63 work permits.  If BP is unable to acquire the visas they need to operate in Russia they risk losing operation control of the TNK-BP joint venture.  It was speculated that Russian partners intentionally misfield the application for BP in an attempt to gain control of the company in order to sell it to a state owned energy provider.  TNK-BP is the third largest producer of oil in Russia.

 Now it appears that at the last minute visas will be renewed for 49 of the company's executives.  Robert Dudley, the Chief Executive Office of the joint venture and six other VP's will have their visas renewed for an additional year.  BP believes that this is a step in the right direction to getting the ordeal straightened out they stress that this still leaves more than half of the employees with visa about to expire that will have to leave Russia within weeks.  Dudley said "Unless additional permits are accepted and granted at least half the non-Russian staff, recruited from a number for firms around the world, will be ejected from Russia, as a result of the original unauthorized and improper application that was supported by two of the shareholders in TNK-BP's management."

 www.tnk-bp.com