BP appeals against Russian raid

BP’s subsidiary BP Exploration Operating Company has filed an appeal against a Russian court ruling that allowed bailiffs to search the company’s Moscow offices last week. The search was carried out by black-clad armed bailiffs after minority shareholders in BP's Russian joint venture TNK-BP obtained a court order against the oil major. TNK-BP is seeking compensation for alleged losses following the failure of BP's Arctic exploration agreement with Rosneft. BP said the raid “cannot be lawful or reasonable” as BP EOC is not a shareholder in TNK-BP.