Russian court returns Trebs, Titov to Bashneft JV

摘要

Moscow—A Moscow Arbitration Court on Thursday returned the license for the major Trebs and Titov oil field in Russia’s northwestern Timan-Pechora region to a Bashneft- Lukoil joint venture, overturning a previous decision that Bashneft should be the sole holder of the license. The decision is the latest in a series of court hearings since Bashneft’s minority shareholders launched a bid to keep the license solely in Bashneft’s name. Further court hearings on the issue are likely, with an appeal to the court of cassation the next possible step.