The
148 BP employees "have been temporarily withdrawn from TNK-BP,"
TNK-BP spokeswoman Marina Dracheva said. "The reason is lack of clarity
over their current visa status."
The
latest blow to TNK-BP comes hard on the heels of the arrest of a Russian-U.S.
employee by the Federal Security Service on charges of industrial espionage,
and a subsequent search of the company's Moscow head office.
Analysts
interpreted the quickly mounting pressure against the firm as a sign that
state-run energy giants Rosneft and Gazprom, represented by competing Kremlin
clans, could be fighting over a stake in the company, the country's
third-largest oil producer.
The
BP employees were temporarily withdrawn from the TNK-BP head office on Monday,
but no top managers were among them, Dracheva said. About 3,000 people work at
the office.
"Several
violations of Russian migration law were committed by the company,"
Interfax said Tuesday, citing "a well-informed source in Russian power
structures." Several employees had business visas, rather than work visas,
the source said.
The
case is the latest high-profile example of foreigners falling afoul of the
country's notoriously complicated visa regulations.
The
executive director of Human Rights Watch, Kenneth Roth, last month accused the
government of using the regulations for political ends, after being denied
entry to the country.
Interfax's
law enforcement source denied that the TNK-BP visa affair was connected to
pressure against the company or worsening relations with Britain.
"There
is no allusion to politics or any sort of 'spy affair' in this whole story,
it's purely about following Russian migration law," the source said,
Interfax reported.
The
FSB last week brought charges of industrial espionage against TNK-BP employee
Ilya Zaslavsky and his brother Alexander, an independent energy consultant who
heads the British Council's Alumni Club.
President-elect
Dmitry Medvedev, who chairs Gazprom's board of directors, reiterated claims
that the British Council worked as a cover for British agents in an interview
published Tuesday.
"There
is a problem with this," he told the Financial Times when asked if he
thought the council engaged in spying activities. "These types of
organizations are traditionally used for the collection of information."
Analysts
believe that a state-run company is hoping to muscle into TNK-BP, a 50-50 joint
venture between BP and three Russian billionaires, before Medvedev's
inauguration on May 7. A clause forbidding the Russian shareholders -- Viktor
Vekselberg, Mikhail Fridman and Lev Blavatnik -- from selling expired late last
year.
TNK-BP
agreed to sell its 63 percent stake in its flagship Kovykta gas field to
Gazprom last summer, but the deal, set for between $700 million and $900
million, has yet to be finalized.
"I
am virtually sure that Gazprom has hardly anything to do with it," said
Konstantin Simonov, director of the National Energy Security Fund, a
Moscow-based think tank.
"Not
once over the years has Gazprom used security agencies to achieve its
goals," he said. "Security agencies have helped other companies ...
first of all Rosneft," he said, pointing to the case of Yukos. Former
Yukos CEO Mikhail Khodorkovsky accused Igor Sechin, the chairman of Rosneft's
board and President Vladimir Putin's deputy chief of staff, of being behind the
attack on the company.
Gazprom
spokesman Sergei Kupriyanov denied any links to TNK-BP's troubles with the FSB,
or the visa regime.
"We
have an agreement on strategic cooperation with BP and TNK-BP, and we hold
talks to develop this cooperation," he said, when asked if Gazprom was
negotiating with the firm to buy out its Russian shareholders. "But these
talks have no relation to recent events."
Rosneft
spokesman Nikolai Manvelov also denied that his company had hopes to buy into
TNK-BP.
"We
have a committee that looks at all assets up for sale, but, as far as I've
heard, this company is not up for sale," he said. "We have our hands
busy with business, we don't need to get involved in politics."
The
Russian shareholders issued a statement in February saying they had no
intention to sell, and Vekselberg has said he would only consider giving up his
stake if his $60 billion valuation of the firm were met.
TNK-BP's
market capitalization currently stands at $27 billion.
In
the FT interview, Medvedev denied any economic infighting among Kremlin clans.
"The
security services in every country compete for influence. But they don't
compete for wealth," he said.
Simonov,
of the National Energy Security Fund, said the arrest of the Zaslavskys could
have been an attempt to knock down any potential sale price.
Rosneft
could be interested in further expansion, and buying existing assets is easier
than investing in greenfield projects, Simonov said.
George
Lilis, an oil and gas analyst at MDM Bank, said Rosneft's $23 billion net debt,
which is close to 50 percent of its total capital, could prevent it from
financing further acquisitions.
"Any
company that works under Western standards and is focused on adding value to
its shareholders would not add more debt and acquire more assets," he
said. "They already have a tough time refinancing their debt in
international markets due to global credit turmoil, and adding another huge
amount would be detrimental to both debt and equity holders," he said.
Elena
Herold, an analyst at Washington-based consultancy PFC Energy, said that, as
well as Gazprom and Rosneft, Oleg Deripaska's Basic Element could also be
behind the pressure on TNK-BP in an effort to gain control over the company.
Metals
magnate Deripaska is looking to diversify into energy and is awaiting
regulatory approval from monopoly authorities to buy Russneft, a midsized oil
producer, from fugitive businessman Mikhail Gutseriyev. Gutseriyev fled the
country last summer after accusing the state of orchestrating a criminal case
against him in order to wrest control of his company.
"The
twisting of arms could continue," Herold said about the future of TNK-BP.
"Nobody will want to buy at the real market price."