BP warned today that its key Russian joint venture, TNK-BP, would be "definitely damaged" if the chief executive, Bob Dudley, and other senior directors are forced to leave the country, as seems likely, in a row over work permits triggered by its joint-venture partners.

The London-based oil major, which gets a quarter of its total global oil and gas production from TNK-BP, said it was "utterly disgraceful" that it had been manoeuvred into such a damaging situation by its Russian shareholders, who had encouraged the authorities not to supply the relevant number of visas. ... Read full article