TNK-BP is at odds with British energy company BP and Russian oil company Rosneft over an asset swap that included exploration deals in the Russian arctic.
Any work in Russia done by British energy company BP should go through Anglo-Russian venture TNK-BP, sources close to the matter said.
BP last month agreed to pay Rosneft more than $8 billion in shares for a 9.5 percent stake in the Russian energy company in addition to a development agreement for the Kara Sea on Russian's northern continental shelf.
A London court, however, placed a temporary injunction on the deal following a lawsuit filed by Alfa Access-Renova, a consortium representing the billionaire owners of the Russian half of TNK-BP
BP officials said last week they had to consider paying off AAR for the Rosneft deal, though The Telegraph newspaper in London reports that isn't likely. The newspaper reports that sources close to the matter said AAR wants to make sure any BP work in Russia is done through TNK-BP.
AAR accused BP of going against the shareholder agreement when it signed the deal with Rosneft.
A ruling on the London case could come by the end of the month. (iWireNews ™ and OfficialWire)
