4 Mar 2011 17:58

TNK-BP directors to postpone addressing involvement in BP-Rosneft alliance

MOSCOW. March 4 (Interfax) - The board of directors at TNK-BP decided at a Friday meeting to move to March 13 voting on the issue of involving the company in the BP-Rosneft alliance, TNK-BP announced.

"At the suggestion of one of BP's nominated directors and one of the independent directors, the vote was postponed for 9 days to allow for a more detailed study of the proposal submitted by the management. The next Board of Directors meeting will be held on 13 March in Paris. The vote on the TNK-BP management's proposal to participate in the Arctic project together with Rosneft and the share swap will be the only item on the agenda of the meeting on 13 March," TNK-BP said in a release.