The board of Russia's TNK-BP Ltd., half-owned by BP PLC (BP.LN), may Thursday approve a deal to buy out its partner in a gas station chain but won't vote on a new chief executive, the Vedomosti business daily reported Thursday, citing unnamed sources.
TNK-BP has said it will appoint a new CEO by the end of the year, with former OAO Norilsk Nickel (GMKN.RS) boss Denis Morozov the frontrunner, the report said.
The company will decide on its new CEO later this month but in the meantime it's in talks to buy Sibir Energy PLC's (SBE.LN) 25% stake in a BP-branded filling station chain based in Moscow, Sibir CEO Henry Cameron told the paper.
Sibir's core owner, Chalva Tchigirinsky, is in danger of not being able to meet a margin call on a loan secured against his stake in Sibir, the report added.