Russia will review whether Anglo-Russian oil major TNK-BP Ltd. is complying with license terms for its giant Siberian Kovykta project, and may revoke the license, the country's Ministry of Natural Resources said Friday.
State-controlled gas firm OAO Gazprom (GAZP.RS) agreed in 2007 to buy Kovykta from TNK-BP, a joint venture between U.K. oil major BP PLC's (BP) and a group of Russian businessmen, for $1 billion, but talks between the two companies broke down.