Gazprom showed its hand in the battle over the future of TNK-BP yesterday when it confirmed an interest in buying into the Anglo-Russian oil giant.

As Robert Dudley, TNK-BP’s chief executive, was being questioned by Russian police, Gazprom declared that it was keen to take a stake in its rival. However, Alexander Medvedev, its deputy chief executive, said that Gazprom would wait until TNK-BP had resolved the conflict between its British and Russian shareholders.

“Our shareholders said a year ago that if shares were put up for sale, Gazprom would consider a possible purchase,” Mr Medvedev said at a conference in France. “For the moment, there is a conflict among the shareholders in the company. ... Read full article