Word: bp
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...billion deal to acquire Eldorado, Russia's leading specialist retailer of consumer electronics and domestic appliances, with more than 600 stores. But Dixons is still nervous about the Russian investment climate, and its worries haven't been helped by recent problems at high-profile Western firms, including BP. So the firm agreed to start paying for Eldorado only in 2008. In essence, Dixons has given itself a three-year trial period to determine if it really wants to be in Russia. "It's a no-risk option," says Dixons spokesman Hamish Thompson...
...Foreign firms, too, are vulnerable. Russian tax authorities recently slapped BP's oil joint venture in Russia, TNK-BP, with a $1 billion back-tax bill for 2001. The move has caused dismay at BP in London and prompted Chief Executive John Browne to schedule a trip to Moscow last week, where he met personally with Putin. Meanwhile, the Japanese tobacco company JTI, which makes Winston and Camel brands at a $400 million state-of-the-art factory it built in St. Petersburg, is embroiled in a furious court battle with authorities over a more than $80 million tax demand...
...It’s really fun to watch him take BP,” Farkes says, adding one word for Mann’s power: “incredible...
...British-listed company. That followed similarly upbeat earnings from ChevronTexaco and ExxonMobil, although in all three cases company stock barely moved on the day earnings were released; in Shell's case, its announcement also disclosed a further reduction in the firm's proven reserves. Another big oil firm, BP, is scheduled to announce earnings this week...
...BP has also run into the difficulties foreign companies typically face in Russia. The company's first foray into the Russian market, in 1997, ended badly after Sidanco, a firm in which it took a 10% stake, went bankrupt. At the time, oil was near $10 per bbl., the Russian economy was sliding into crisis, and BP found its stake wasn't big enough to influence Sidanco's management. BP also ended up at loggerheads with other Russian shareholders at Sidanco, members of the private Alfa investment group headed by billionaire Mikhail Fridman. But Sidanco got back on its feet...