FOX: Russian court orders BP to pay 3.1 billion dollars over failed oil deal
MOSCOW – An arbitration court in Siberia has ruled that British oil giant BP should pay $3.1 billion in compensation to its Russian joint venture TNK-BP over a failed attempt to form an alliance with rival Russian state-controlled oil company Rosneft.
BP's spokesman in Russia, Vladimir Buyanov told The Associated Press that it considers Friday's ruling of the Tyumen Region Arbitration Court unfair and will appeal it.
The verdict came in response to a lawsuit launched last year by Andrei Prokhorov, an obscure minority shareholder of TNK-BP. The multibillion-dollar Arctic deal between BP and Rosneft collapsed last year after Russian TNK-BP shareholders contested it.
