BP slips on TNK-BP legal moves to stop Rosneft tie-up

BP shares are slipping following news that its existing Russian partners have filed a lawsuit to try and prevent its link up with Rosneft. But BP said it believed the deal with Rosneft - initially involving a share swap and drilling deal in Alaska - did not breach an agreement it has with TNK-BP. TNK believes it has priority on any projects with BP in Russia. The news has pushed BP 3.5p lower to 488.2p, and it illustrates the complexity the company faces in its dealings in Russia. Meanwhile, undeterred, Rosneft has struck a deal with US group ExxonMobil to develop a venture in the Black Sea.