BP’s Browne in Russian racketeering lawsuit

An oil company that claims it fell victim to extortion in Russia has accused BP and its chief executive Lord Browne of profiting from its plight.

Norex Petroleum of Canada is demanding up to $2bn in compensation and punitive damages in a lawsuit against BP and its boss, among others. The legal action, filed in a US court under America’s anti-racketeering laws, targets all shareholders in TNK, the Russian oil firm in which BP holds a $6.5bn stake.