MOSCOW (AP) — A spokesman for BP says the board of the company’s Russian venture, TNK-BP, has voted against a move to join a $13 billion lawsuit against the British oil company.
Vladimir Buyanov told The Associated Press that TNK-BP turned down the motion, but could provide no other detail.
TNK-BP is Russia’s third-largest oil company, owned on a parity basis by BP and a group of Russian billionaires.
BP and the Russian shareholders, known collectively as AAR, clashed over a multi-billionaire Arctic deal between BP and Russian state-owned firm Rosneft.
A minority shareholder of TNK-BP is suing BP for 409 billion rubles ($13 billion) in damages for the failed deal that he said could have benefited TNK-BP.
AAR and BP each has four representatives on TNK-BP’s board. There are also three independent directors.
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