Bp in Russia Case Solution Essay
BP has been operating in Russia since the early 1990s. In 1997, it purchased a 10 per cent stake in Sidanco, the Russia’s 4th largest oil company. The stake was subsequently increased to 25 per cent plus one share in 2002.
In 2003, BP merged its interests in Russia with those of TNK to create TNK-BP, a hugely successful joint venture employing around 50,000 people and operating in nearly all of Russia’s major hydrocarbon regions. Since its formation, TNK-BP went on to become Russia’s third biggest vertically integrated oil and Gas Company.
In 2005, TNK –BP became the second largest oil producer in the Russian market with an average of 1.58 million barrels of oil produced per day. TNK –BP maintained production growth above …show more content…
TNK -BP Value Chain:
Support Activities * Management structure includes the President CEO and General Manager of their respective division
* Hire and fire Employees * But HRM department was not running effectively because of that 300 employees leave their job.
Human Resource Management
* They used modern technology for exploration and development of resource.
* Purchase modern new equipment