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Russian bailiffs search BP's office in Moscow
August 31, 2011 - 5:35 AM
MOSCOW (AP) — Oil company BP says Russian bailiffs are searching its Moscow office because of a minority shareholder's lawsuit.
BP's Russian spokesman Vladimir Buyanov told The Associated Press on Wednesday that the company is cooperating with the bailiffs. He said no documents have been seized and the situation in the office is "calm".
Andrei Prokhorov, an obscure minority shareholder of BP's Russian venture TNK-BP, is suing the British oil giant for allowing an Arctic exploration deal with the Russian state-owned engery firm Rosneft to fall through. Prokhorov is seeking some $3 billion in damages. He says his interests were harmed as TNK-BP could have benefited from becoming part of the deal.
Rosneft teamed up with Exxon Mobil on Tuesday in a multibillion deal to develop offshore oil fields in the Russian Arctic.
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