BP has made staggering profits in Russia. It has been a superb investment for the British oil major but has caused a lot of noise. Its joint venture with Russia’s TNK has been a long saga of unpleasant partnerships, bitter disputes and unpredictable outcomes that have shed a negative light on Russia’s business environment.
“Rarely has such a big profit looked so bad,” Chris Weafer, chief strategist at Troika Dialogue in Moscow, wrote in a note to investors referrin...
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