BP, TNK Billionaires Seek to Defeat Oil-Company Theft Claims
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BP Plc and its billionaire partners in Russian oil venture TNK-BP asked a New York judge to throw out claims against them seeking more than $1 billion in damages over the alleged theft of an oil company.
The lawsuit by Norex Petroleum Ltd. stems from more than a decade of litigation in Russia and the U.S. over Yugraneft, which owns an oil field in Western Siberia. Norex claims its controlling stake in Yugraneft was stolen through corruption and armed force and that BP and its partners profited off the scheme at Norex’s expense.