Monday, May 28, 2007

BP's Russia Unit Faces Loss of Kovykta Field After Siberian Court Ruling

(Bloomberg) -- BP Plc's Russian venture lost a court
case over its license to the giant Kovykta gas deposit, allowing
the government as early as this week to regain control of a
field with enough fuel to supply Asia for five years.

A court in Irkutsk, Siberia lifted an order forbidding the
federal government from revoking the license held by TNK-BP's
OAO Rusia Petroleum unit, after dismissing the unit's demands to
clarify how much gas it had to provide to the region.


Read more at Bloomberg Energy News

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