TNK-BP receives claim for RUB 10 billion

According to Prosperity Capital Management, a minority owner of the Saratov Oil Refinery (the “Refinery”), TNK-BP is responsible for RUB 10 billion (approx. EUR 250 million) in losses incurred by the Refinery in 2009. The fund that submitted the claim against TNK-BP has tried unsuccessfully through the courts on numerous occasions to recover the alleged losses from the oil company.

Artur Zurabyan, Head of the International Litigation and Arbitration Practice Group at ART DE LEX, believes that Prosperity's chances to win the case are slim. In his opinion, as the future owner of TNK-BP and the Refinery, Rosneft is interested in resolving this matter, so it may act as a sort of arbitrator.