BP in Russia: Analysis of the TNK-BP Failure
British Petroleum has operated in Russia for over 15 years, during which the business has experienced first hand the difficulties of operating there. A joint venture formed in 2003 was expected to be the answer for BP. However, the partnership was fraught with difficulties. This paper will look to analyse the causes of strategic failure with the TNK-BP joint venture. Additionally this paper will contribute to the previous literature through up-to-date analysis of the latest partnership with Rosneft and consider if strategic learning has taken place. This paper will use a combination of audit tools and empirical techniques to analyse the strategic failure. In depth audit analysis of the internal and external environment gives this paper a comprehensive overview of the joint venture and enables it to produce strategic recommendations, which BP should look to implement if undertaking future business in Russia.