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Head of BP in Russia to Be Replaced

The head of BP in Russia is leaving the international oil major after playing a key role in the sale of TNK-BP to state-owned Rosneft, BP said in a statement Thursday.

David Peattie, who worked for BP for 34 years, was in 2008 appointed the head of BP in Russia and to the board of TNK-BP, joint-owned by BP and billionaire consortium AAR.

On March 1 he will be replaced by Michael Townshend, who will transfer from his current position within BP as the head of the company's operations in Iraq.

"David has provided outstanding leadership," BP head Robert Dudley said in the e-mailed statement. "Most recently he played an important role working with Rosneft for the sale of BP's stake in TNK-BP."

Peattie will take up a position at privately-owned North Sea oil producer Fairfield Energy, Reuters reported.

After years of acrimony between the shareholders of the Anglo-Russian TNK-BP, Rosneft negotiated a deal to buy the company. It will pay $27 billion in cash and stocks to BP for its 50 percent holding.

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