BP Raided by Russians - Again

[Jimbeaux]

This has been on the news here for a few days now. I haven't seen it on PH. Have I missed it or is there no thread?

http://www.nytimes.com/2011/09/02/business/global/...

[Bing o]

It didn't involve a soccerist getting his dick wet in his team-mates missus, gypsies, or the latest celebrity TV bks, so won't have made the UK MSM. Bit worrying that this is bigger news in the US/elsewhere....

Noting on BBC News/Business either. Depressing really!

[XJSJohn]

Standard Russian business practice sadly!

[Bugeyeandy]

Bing o said:

It didn't involve a soccerist getting his dick wet in his team-mates missus, gypsies, or the latest celebrity TV bks, so won't have made the UK MSM. Bit worrying that this is bigger news in the US/elsewhere....

Noting on BBC News/Business either. Depressing really!

It was on the BBC site two days ago

http://www.bbc.co.uk/news/business-14728584

[phumy]

Also probably because the US still has a big beef on BP over the oil leak in the Gulf. Got to keep them in the "limelight".

[phumy]

Also probably because the US still has a big beef on BP over the oil leak in the Gulf. Got to keep them in the "limelight".

[alfaman]

Any western business doing well in Russia is likely to be "done over" by a "tax inspection" ... or just have it's assets seized by the local thugs [ sorry .... goverment and regulators].

Is it illegal and in breach of contract ? : Yes most likely

Can any western business / owners successfully arbitrate or sue a Russian partner or Russian Govt body in Russia ? : forget about it.

[having some experience of setting up a large [successful] partnership in Russia, and deciding NOT to invest equity with a local "entrepreneur" ...the key is not to invest equity and stick to trading rather than a JV ]

[.. a major competitor in the region invested $ millions with said entrepreneur ... all of which he [allegedly] spunked on yachts , villas and [I guess] women and booze ...oh dear !! ]

Edited by alfaman on Friday 2nd September 07:27

[Jimbeaux]

phumy said:

Also probably because the US still has a big beef on BP over the oil leak in the Gulf. Got to keep them in the "limelight".

Not really. BP employs as many if not more Americans IIRC.

[EDLT]

Jimbeaux said:

phumy said:

Also probably because the US still has a big beef on BP over the oil leak in the Gulf. Got to keep them in the "limelight".

Not really. BP employs as many if not more Americans IIRC.

Its still "British Petroleum" though.

[Jimbeaux]

EDLT said:

Jimbeaux said:

phumy said:

Also probably because the US still has a big beef on BP over the oil leak in the Gulf. Got to keep them in the "limelight".

Not really. BP employs as many if not more Americans IIRC.

Its still "British Petroleum" though.

If you are Barack Obama it is. Nowhere in the US does a sign say anything but "BP".

[bga]

Jimbeaux said:

If you are Barack Obama it is. Nowhere in the US does a sign say anything but "BP".

It is the same in the UK. I've been visiting various UK locations for 5 years and the single reference I have heard to "British Petroleum" was during an induction and was in the context of the company over the years.

[don4l]

EDLT said:

Its still "British Petroleum" though.

No, it isn't.

British Petroleum merged with Amoco at the end of 1998. The new Company was called BP Amoco PLC. In 2001 BP Amoco changed its name to BP.


Don
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[sadoksevoli]

Exxon have just signed a major deal with Putin's croneys to explore the arctic seabed... so now it'll be their turn to experience the Russian style of doing business.

[bga]

sadoksevoli said:

Exxon have just signed a major deal with Putin's croneys to explore the arctic seabed... so now it'll be their turn to experience the Russian style of doing business.

The deal was in the bag for BP apparently but the shareholders of the partners got jittery after GoM and forced the partnership to be re-evaluated.

[Jimbeaux]

Details of the Exxon-Russian deal:

http://www.nytimes.com/2011/08/31/business/global/...