TNK-BP To Face Tax Authorities Investigation

Vladimir Panskov, an auditor of the Russian Audit Chamber, strongly criticized Russian-British oil company TNK-BP, Interfax agency reported.

Panskov claimed that the company continues to use tax minimization schemes and has failed to fulfill conditions of several licensing agreements. The official also said that he send a letter to the Russian tax authorities requesting verification and clarification of these issues.

As for TNK-BP?s failure to fulfill conditions of its operating licenses, Panskov meant there that the company has left too many wells un-drilled and is not seeking verification from the Natural Resources Ministry.