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BP writes down stake in Sidanko

BRITISH PETROLEUM is this week expected to write down the value of its stake in Sidanko, the Russian oil group which has sought protection from its creditors. BP is likely to write down part of its 10 per cent stake, valued at around $500m. It comes amid a fresh round of senior casualties following BP's merger with Amoco, the US oil group.

Correction: The photograph printed in Saturday's Briefing was not of Peter Rogers, chief executive of the Independent Television Commission, but of Sir Robin Biggam, chairman of the television watchdog.