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Buoyant BP Brushes Off Russian Rumbles.
Knight Ridder/Tribune Business News, October, 2003
By Brian O'Connor, Daily Mail, London Knight Ridder/Tribune Business News
Oct. 29--BP is poised to invest even more in Russia despite the clamour over the arrest of Yukos oil boss Mikhail Khodorkovsky.
It plans to buy local oil producer Slavneft in the current quarter, quicker than first expected. That will take its total Russian investment to UKpound 5 billion.
As nine-month group profits soared 60 percent to UKpound 5.75 billion, chief executive Lord Browne said: "Russia is a country in transition.
"The question is in which direction the transition is going." He insisted: "We have confidence in the Russian government. News happens. It does not change our view at all."
But he scotched the notion that Russia is BP's...
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