The new oil holding from the combined Russian and Ukrainian assets of BP and Alfa Group - Access-Renova (AAR) will be called TNK - British Petroleum. According to the Tyumen Oil Company's (TNK) press office, this decision was taken in Moscow yesterday at the first session of TNK - BP's monitoring board, which will become the new company's board of directors after the merger of BP and AAR's Russian oil and gas assets in completed.
The board includes Mikhail Fridman, the chairman of Alfa Group's board of directors, Rodney Chase, the senior advisor to BP's chief executive, Len Blavatnik, the chairman of Access Industries, Viktor Vekselberg, the chairman of Renova and chief executive of TNK, Brian Gilvary, BP's vice-president for oil refining, Andy Inglis, BP's vice-president for oil extraction, Alex Knaster, Alfa Bank's managing director, Tony Hayward, BP's chief executive for oil extraction and production, and Patrick Chapman, BP's chief treasurer. Mikhail Fridman has been elected chairman of the board and Robert Dudley appointed president and managing director of TNK - BP.
At the meeting decisions essential to TNK - BP work after the formal completion of the deal were taken. According to TNK's press office, all the decisions taken by the board are provisional and may be re-examined after the company is officially established. The company's organizational structure and all staff appointments will come into force after the formal conclusion of the deal.