British Petroleum has signed an agreement with partner TNK to keep its 50% stake in joint venture TNK-BP after it was thought it could be at risk due to disagreements between the companies, the Financial Times reports.

The deal, agreed this week by BP’s board and steered by Tony Hayward, BP’s ceo and chairman Peter Sutherland, was reached after fears that BP’s interest in TNK-BP could be at risk because of its fight with its Russian oligarch partners. BP’s control of TNK-BP had also come under pressure from multiple investigations by the Russian authorities into its labor practices.

For the complete story, click