Russian regulators delay ruling on TNK-BP licence

0 Comments | AFP, June, 2007

MOSCOW (AFP) — British-Russian joint venture TNK-BP on Friday won at least a temporary reprieve after threats by Russian officials to strip the company of its licence to operate the vast Siberian gas field of Kovykta.

Interfax news agency and the Vedomosti business daily reported that a meeting scheduled for Friday at which the regulator on sub-soil use, Rosnedra, was due to consider the issue had been postponed.

It was the second such delay in two weeks.

Vedomosti, citing officials at TNK-BP and Rosnedra, said the delay was for a further two-week period and would allow negotiations on the possible entry to the project of gas giant Gazprom.

Interfax meanwhile reported that the delay was indefinite.

"The commission will not hold a repeat...