MOSCOW, April 12 (UPI) -- Russia's half of the TNK-BP joint venture might file a multibillion-dollar suit against BP for not extending an invitation to join a Rosneft deal, sources said.
BP and its Anglo-Russian counterpart TNK-BP are at odds over a British deal with Rosneft reached in January to explore parts of the Russian arctic for natural resources.
The billionaire investors representing the Russian half of TNK-BP claim the deal violates a shareholder agreement.
The Russian billionaires may file a major suit against BP for not inviting them to join the deal, Russia's business daily Kommersant reports.
The Russian moguls are angry over what they see as a failure of the BP side to live up to their obligations in the joint venture.
BP said last week after a court put the Rosneft deal in limbo that it would consider the measure ahead of its annual meeting later this week. The meeting coincides with the expiration of the Rosneft deal.
BP this week could ask for Moscow's permission to buy out half of the 50 percent stake in TNK-BP, possible with the help of Rosneft, the Financial Times reported Monday.
TNK-BP and BP are storied rivals. Bob Dudley, now chief executive officer at BP, was run out of the top position at TNK-BP in 2008 for what he cited as harassment by the Russians.
