TNK-BP VPs Latest to Go

Two vice presidents at TNK-BP will step down this month, according to Reuters, the latest in a string of personnel changes at the British-Russian oil venture, based in the Russian oil fields. Vice Presidents Tom Wright and Steve Riddlington will be leaving the company for unknown reasons.

These management changes are the latest in a string of similar shifts at a company torn between its British and Russian owners. Both the company’s CFO and its executive VP of downstream operations left earlier in the year, as did a board member.

Chief Executive Robert Dudley was forced out last month over concerns amongst Russian investors that BP had too strong of a position in the company. A memorandum of understanding released at Dudley’s departure mandated that his replacement be a Russian-speaker with experience in the country’s oil operations.

TNK-BP was formed in 2003 as a partnership between the BP energy company and Alfa Access Renova (AAR), a group of Russian billionaire investors. The company has been embroiled in a power struggle as AAR has attempted to assume greater control than it’s half of the 50/50 ownership split. TNK-BP is Russia’s third-largest oil company.