BP PLC (BP.LN) and OAO Gazprom (GAZP.RS) are still in talks to finalize an international alliance, BP's chief executive said Tuesday.
Talks to finalize the tentative deal signed in June 2007 with the Russian state gas company "are not very active" but discussions continue, BP CEO Tony Hayward said at a press conference.
He said BP has a "good relationship" with OAO Rosneft (ROSN.RS) with which it operates a joint venture in the Russian Far East.
Hayward also vowed to remain in Russia despite an acrimonious dispute with its Russian local partners which led to the departure of the head of its local venture last week.
"We will not be intimidated by strong arms tactics," Hayward said. BP, which owns 50% of Russian oil and gas joint venture TNK-BP Holding (TNBP.RS), is in dispute with its partners in the company Alfa-Access-Renova, or AAR.
TNK-BP Chief Executive Robert Dudley left Russia last week as a result of the dispute.