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AAR disappointed at TNK-BP board meeting outcomes

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Published 14 July, 2008, 09:05

The Russian co-owner of Russian-British oil joint venture TNK-BP – the AAR Consortium – has said it was disappointed that BP shareholders rejected the proposals to reform the venture on Friday.

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All four resolutions drafted by AAR were turned down by BP at the TNK-BP`s board meeting in Cyprus on Friday.

AAR proposed dismissing Robert Dudley as TNK-BP head , giving the company's new head more powers and extending the terms of office for Russian managers.

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