BP on Thursday accused its Russian partners in TNK-BP of 1990s-style “corporate raiding” and said they were trying to seize control of its Russian oil joint venture.

Peter Sutherland, BP chairman, said the standoff between BP and TNK-BP’s Russian billionaire shareholders over the joint venture was a “dispute over control – and perhaps ultimately ownership – of the company”.

He said it was not about the governance and operational issues the Russians have complained of in a public row that escalated sharply this week when the Russian shareholders said they were taking BP to court in Russia and Sweden. ... Read full article