TNK-BP can sue BP over Rosneft deal

MOSCOW, April A dozen (UPI) -- Russia's one half of the TNK-BP joint venture may document a multibillion-dollar match up against BP for not elongating letter of invitation to join a Rosneft deal, sources said. bp claim

BP and its Anglo-Russian counterpart TNK-BP are at odds over a Brit cope with Rosneft reached in Jan to explore sections of the Russian snowy for raw bounty.

The billionaire shareholders representing the Russian one half of TNK-BP Claim the offer violates a share covenant.

The Russian billionaires might document a major suit against BP for not inviting them to enroll in the deal, Russia's enterprise daily Kommersant reports.

The Russian moguls are angry over what they see as an inability of the BP aspect to live up to their obligations in the jv.

BP said last week after a court put the Rosneft deal in limbo which it would take into account the quantify ahead of its annual meeting later on this week. The meeting coincides with the expiration of the Rosneft deal.

BP this week can ask for Moscow's licence to purchase out one half of the 50 % stake in TNK-BP, possible with the help of Rosneft, the Monetary Times reported Monday.

TNK-BP and BP are storied rivals. Bob Dudley, now chief executive officer at BP , was sprint out from the leading position at TNK-BP in 2008 for what he quoted as harassment by the Russians.