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BP and oligarchs face off as $4.9 billion claim looms

BP prompted the spat with AAR, the consortium of Russian and Russia-connected oligarchs who own half of oil company TNK-BP, by agreeing a share swap and Arctic exploration deal with Russian-state-controlledRosneft <ROSN.MM>. AAR secured a court injunction that blocked the deal, which finally collapsed in May when the quartet of billionaire shareholders…

Ex-BP boss quits Russian joint venture

Tony Hayward, the former head of BP who stepped down after the Gulf of Mexico oil spill catastrophe, is leaving his post on the board of its Russian joint venture TNK-BP, the company said Monday. Hayward, who came under huge criticism for his role in the clean-up of the oil…