Police Raid BP Offices in Moscow
By ANDREW E. KRAMER
NYT
MOSCOW — Police officers armed with assault rifles Wednesday raided the Moscow offices of the British oil giant BP, carrying out a type of ritual armed search of white-collar premises that is common enough here to have a nickname, “masky show.”
The timing of the raid, however, highlighted this peculiar type of Russian risk for another company — ExxonMobil, which just a day earlier agreed to take over the very Arctic exploration deal that fell through for BP.
BP is still involved in a dispute with its Russian partners over that oil-exploration deal; the police search was related to a lawsuit pending in a Siberian court.
Russia is as important for BP’s oil production as the United States, so even though the company has had such problems here for years, its share price often nudges up or down in response to police raids or the arrests of employees.
(More here.)
NYT
MOSCOW — Police officers armed with assault rifles Wednesday raided the Moscow offices of the British oil giant BP, carrying out a type of ritual armed search of white-collar premises that is common enough here to have a nickname, “masky show.”
The timing of the raid, however, highlighted this peculiar type of Russian risk for another company — ExxonMobil, which just a day earlier agreed to take over the very Arctic exploration deal that fell through for BP.
BP is still involved in a dispute with its Russian partners over that oil-exploration deal; the police search was related to a lawsuit pending in a Siberian court.
Russia is as important for BP’s oil production as the United States, so even though the company has had such problems here for years, its share price often nudges up or down in response to police raids or the arrests of employees.
(More here.)
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