TNK-BP Holding (TNBP.RS) has promised the Russian government to speed modernization of its pipelines after the state's criticism of the company's ecological policy, Yury Trutnev, Russia's natural resources and environment minister, said Tuesday, Interfax reported.

He said that the ministry met with the owners of TNK-BP, a joint venture between BP PLC (BP) and a group of Russian investors.

"They hear us, they said they will take steps to modernize pipelines faster", he said as reported by the agency.

A person familiar with the matter confirmed that the meeting took place, but neither the company itself nor the spokesman for the Russian co-owners offered comment.

Trutnev told Prime Minister Vladimir Putin at a government meeting Thursday that TNK-BP spends "practically all of its profit, almost $8 billion" on dividends, while maintaining "poor" environmental policies, citing numerous oil spills in Siberia . Trutnev said he will order a prosecutor general's inspection of the company.

The government of Russia , not known for its scrupulous environmental policy, has repeatedly used ecological concerns for putting pressure on private companies, forcing them to invest more or to cede their licenses.

Since the start of the government's criticism shares in TNK-BP have lost 7.7%, however they were up 0.5% at RUB87.50 by 1300 GMT Tuesday amid falling wider market.
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