BP's Russia boss leaves to run Fairfield Energy
LONDON Jan 31 (Reuters) - David Peattie, the head of British oil company BP's often fraught Russian business, is leaving to run privately-owned North Sea oil producer Fairfield Energy, the companies said on Thursday.
The move comes as BP plans to sell its stake in its main Russian investment, TNK-BP - one of the country's biggest oil producers.
Peattie was one of a generation of managers at BP, including former chief executive Tony Hayward, that were seen as possible future leaders of the company. He will continue to sit on the board of TNK-BP until BP completes the sale of its half share to Russian state-controlled Rosneft.
Fairfield Energy is owned by a consortium of private and institutional investors from Europe and North America led by private equity firm Warburg Pincus and investment house Riverstone, where former BP CEO John Browne is a partner.
Peattie, a 32 years veteran of BP, succeeds Chris Wright at Fairfield.
BP decided to sell its TNK-BP stake last year after years of spats with its oligarch co-owners.
- Israel strikes house of Hamas Gaza leader, digs in for long fight |
- U.S. says Russia violated nuclear treaty, urges immediate talks
- West agrees wider Russia sanctions as Kiev says forces near crash site |
- Judge gives go-ahead for $2 billion sale of NBA's Clippers |
- Jaded Argentines brace for looming debt default