Brussels, 04/09/2008 (Agence Europe) - On Thursday 4 September, European Energy Commissioner Andris Piebalgs welcomed the news that the argument between shareholders in the Russo-British oil group TNK-BP had been settled. Each holding 50% of the group, British oil company BP and the Russian consortium Alfa Access/Renova signed a memorandum of understanding ending the dispute that has lasted several months. Since the start of the year, TNK-BP, Russia's third largest oil producer, has suffered several legal problems, going from searches related to a spy case, the resignation of several highly placed officials, the loss of dozens of its specialists to the expulsion of its Chief Executive Robert Dudley. At the start of July, it was widely predicted that TNK-BP would be dismantled before being sold cheaply to the Russian state. The memorandum of understanding provides for Dudley's departure by the end of the year, as Russian shareholders, who had accused him of favouring BP, had demanded and an option to invest 20% of the capital of a TNK-BP subsidiary on the stock exchange. (E.H./transl.rt)