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BP CEO says TNK-BP deal may end unit's legal woes

LONDON
Thu Sep 4, 2008 6:48am EDT

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LONDON (Reuters) - The chief executive of oil major BP Plc (BP.L) said he hoped the framework deal he had agreed with his billionaire partners in TNK-BP will bring an end to a wave of legal and regulatory attacks on the Russian oil company.

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"We hope that the issues that TNK-BP has been dealing with will become less (frequent) as we go forward," Tony Hayward told Reuters in a telephone interview.

The CEO added that two of the four billionaires which own 50 percent of TNK-BP, Viktor Vekselberg and German Kahn, who currently hold senior management roles at TNK-BP, may lose these roles following the deal.

"It's reasonable to expect that one of both of them will leave their positions, but it will be the decision of the new CEO," he said.

(Reporting by Tom Bergin; Editing by David Holmes)
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