This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-14728584
The article has changed 9 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Bailiffs raid BP's offices in Moscow | |
(40 minutes later) | |
BP has confirmed that bailiffs have entered its offices in Moscow. | BP has confirmed that bailiffs have entered its offices in Moscow. |
The company's spokesman in Moscow said their arrival was linked to a case in a regional court in Western Siberia relating to the collapse of the Arctic oil exploration deal with Rosneft. | The company's spokesman in Moscow said their arrival was linked to a case in a regional court in Western Siberia relating to the collapse of the Arctic oil exploration deal with Rosneft. |
The deal collapsed because of a legal challenge from its Russian partners in the joint venture TNK-BP. The deal has now been done with Exxon Mobil instead. | |
In a statement, BP said there were "no legitimate grounds for such a raid". | |
The raid was on the offices of BP EOC, an exploration company, which BP said had no connection with the court case in Tyumen in Siberia. | |
"If the Tyumen Court decision is allowed to stand, it means any party can raid a company's premises at will and examine all its documents," BP said. | |
"They are confidential and have no connection with any shareholders' issues." | |
'Sustained harassment' | |
BP signed up to a strategic alliance with state-owned Rosneft in January, but its existing partners in Russia said it had broken an agreement covering any other Russian oil business deals. | BP signed up to a strategic alliance with state-owned Rosneft in January, but its existing partners in Russia said it had broken an agreement covering any other Russian oil business deals. |
BP's management are well versed in the problems of doing business in Russia. | |
Chief executive Robert Dudley was chief executive of the TNK-BP joint venture for five years until 2008, when he resigned as a result of "sustained harassment". | |
BP and the Russian billionaires' investment vehicle Alfa Access-Renova (AAR) each own a 50% stake in TNK-BP. |