BP vows to appeal Russian court ruling

Oil
By The Associated Press on July 27, 2012

An arbitration court in Siberia ruled Friday 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 Russian state-controlled oil company Rosneft.

BP's spokesman in Russia, Vladimir Buyanov told The Associated Press that it considers the ruling by the Tyumen Region Arbitration Court unfair and will appeal it.

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