This article is by Lisa Colantuono, co-partner of AAR Partners, an agency search consultancy.
John Kariuki is the founder and CEO of AAR Credit Services, a Kenyan-based micro-finance company.
Among her hits were Mere Piya Gaye Rangoon, Kabhi Aar Kabhi Paar and Kajra Mohabbat Wala.
Indeed on May 18th Rosneft admitted that talks with BP and AAR could resume.
ECONOMIST: The British oil company��s Russian deal is not dead yet
One AAR director and one BP director will also depart, making way for three independents.
TNK-BP is jointly owned by Alfa Access Renova (AAR) and BP, after a deal struck in 2003.
How far Sechin screws AAR will probably depend on how much it affects the broader investment climate in Russia.
But his request was contradicted by Viktor Vekselberg, a TNK-BP director and one of the three tycoons who own AAR.
Both the British oil giant and the oligarch-owned AAR want to sell their 50% stakes in Russian oil giant TNK- BP.
The AAR consortium blocked the deal citing that the proposed deal would negate the competitive advantage that TNK-BP has in Russia.
FORBES: BP Gets Shafted In Russian Deal To Explore Arctic With Rosneft
Meanwhile, Rosneft moved to purchase the other half of TNK-BP, agreeing to buy it from AAR, a group of four Russian billionaires.
FORBES: From Russia With Love: BP Draws Closer To Kremlin With $30B Sale of TNK-BP Stake
Despite denials, Russia's tax and immigration inspectors seemed to be helping AAR.
In 2011, the AAR consortium attempted to block a drilling joint venture in the Arctic between BP and Rosneft through the courts.
Because AAR, not unlike chip capital equipment suppliers, had expanded quickly right into the late 2008 downturn, its financials were hard hit.
The AAR shareholders are satisfied that their concerns have been met over independence at TNK-BP, international expansion plans, and the chief executive position.
AAR, with its short-term outlook and expectation of fast-growing returns, was dismayed to see a dynamic company turning into a Big Oil bureaucracy.
Not so, AAR, which also will see continued civil aviation rebound noted in the latest quarterly earnings release from resumed airline flight hours.
The foreign staff's troubles began, BP says, when an employee who is also a shareholder of AAR deliberately applied for the wrong number of visas.
Fridman is also a member of the super wealthy AAR consortium, a private equity firm that represents the four oligarchs that own half of TNK-BP.
FORBES: Beleagured Russian Oil Co CEO Quits After Battles With BP
Rosneft is buying TNK- BP, which is a vertically integrated oil company co-owned by British oil firm BP and a group of Russian billionaires known as AAR.
The AAR consortium, which includes billionaires Mikhail Fridman, Leonard Blavatnik and Victor Vekselberg, actually has good reason to downplay sensational theories about Russian oil.
Finalized it will be, however, because the billionaires of AAR are now eager to sell, rather than remain in a joint venture with the powerful Russian oil company.
But this sort of thing always precedes big energy deals in Russia, and the way the AAR Group of Russian shareholders in TNK-BP sees it, everything is under control.
TNK-BP, an oil company that produces 1.6m barrels a day and which is owned jointly by Britain's BP and Russian private investors, AlfaAccessRenova (AAR), was for months paralysed by war in the boardroom.
TNK-BP's chief executive, Bob Dudley, a former employee of BP, has since tried to rein in employees close to AAR, but has not been able to because of the divisions at the top.
Last year, AAR, which is owned by four Russian-born billionaires led by tycoon Mikhail Fridman, was unhappy with BP's attempt to form an exploration alliance with Rosneft and secured a High Court injunction blocking the plan.
The writing has been on the wall for TNK-BP since this time last year, when one of the AAR billionaires quit his role as CEO of the venture and declared that the relationship with BP had run its course.
Rosneft gained much of its current heft at the expense of another Russian oligarch whom Putin threw under the bus, and the billionaires of AAR know they could easily meet the same fate if they try to partner with Rosneft as equals.
On the same day that BP's results were announced, a judge in London granted a request by Alfa-Access-Renova (AAR), the vehicle through which Russian partners hold their stake in TNK-BP, that the Rosneft deal be put on ice until at least February 25th.
应用推荐