British Petroleum (BP) CEO Anthony Hayward will step down and is going to present a successor, Russian Deputy Prime Minister Igor Sechin said on Monday.
BP, however, denied that Hayward is going to quit the post he has been holding since 2007.
Sechin, who is in charge of fuel and energy industries in the Russian government, also reiterated his plans to meet with Hayward on Monday in Moscow, the RIA Novosti news agency reported.
BP's Russian venture TNK-BP is responsible for a quarter of the British company's global oil output.
Hayward was scheduled to visit Russia to confirm that BP's positions are stable, despite the oil spill in the Gulf of Mexico.
On June 18, BP's Board of Directors said that Hayward would pass all responsibilities over the management of the situation in the Gulf to the firm's managing director Robert Dadly.