A Slick Move in Russia's Oil Patch?

Giant TNK is out to grab a controlling stake in one of Siberia's biggest producers. BP Amoco could get in the way, though

Tyumen Oil Co. (TNK) has a well-earned reputation for being one of the most aggressive players in Russia's big -- sometimes bruising -- oil sector. In a controversial 1999 bankruptcy auction, TNK made headlines by seizing a control of a choice subsidiary of Siberian oil producer Sidanco over the strong objections of international oil major BP Amoco, a 10% Sidanco shareholder and a newcomer to the Russian market. (Welcome to Russia, BP.)

To continue reading this article you must be a Bloomberg Professional Service Subscriber.