Macfarlanes’ slick job

The best efforts of Colonel Gaddafi and his family notwithstanding, BP is finding it hard to stay out of the news these days.

There was barely time to allow the champagne corks to land following the signing of a £10bn JV with Rosneft before the litigators started tapping on the window, threatening legal action from BP’s previous Russian sweetheart Alfa Access Renova (AAR).

Meanwhile, TNK-BP, the vehicle formed when AAR hitched its wagon to the oil giant’s star way back in 2003, is to hold an EGM tomorrow to decide whether it wants to muscle in on the Rosneft deal.

With certain areas of the world looking increasingly unreliable when it comes to oil extraction, maybe BP’s and Rosneft’s commitment to Arctic exploration isn’t such a bad idea.

Whether the TNK-BP directors share that opinion or not we will find out tomorrow. But either way, the vote has brought a nice surprise for Macfarlanes, which, if reports are to be believed, has won a juicy little mandate from the directors (see story).

So, black gold becomes Mac gold. Just like that.