0.31%QQQQ 43.45 
0.48%XLF 21.74 3.62%
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MOSCOW - Russian authorities granted a temporary visa Friday to TNK-BP's chief executive, heading off the immediate prospect of a power vacuum at the troubled oil company.
| BP | 54.03 |  -0.23 |
Robert Dudley, whose current visa expires Saturday, received a 10-day extension, enabling him to remain in the country until July 29, said a spokesman for the Federal Migration Service.
The Russian shareholders, who own half of the company, have clashed with co-owner BP over management and strategy. They have called for the removal of BP-backed Dudley, who they claim manages the company in the interests of the British firm.
The decision marks a temporary reprieve for Dudley, whose departure would leave the venture in the operational control of the Russian investors. But authorities said they still require proof of a valid employment contract before they will issue him with a new one-year visa.
Dudley claims his contract is open-ended. The Russian shareholders disagree.
TNK-BP could not be reached for immediate comment.
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