USD 64.2548

-0.11

EUR 70.8473

-0.08

BRENT 58.91

+0.07

AI-92 42.16

+0.05

AI-95 45.93

+0.05

AI-98 51.82

-0.03

Diesel 46.15

+0.11

28

BP Fears to Destroy its Reputation: Yukos Auction

Some BP's shareholders expressed concern over the company's taking part in the auction of YUKOS assets

Some BP's shareholders expressed concern over the company's taking part in the auction of YUKOS assets, which took place last week.

They fear that BP's reputation will be tarnished in the auction. The quick exit of TNK-BP's subsidiary Samotlorneftegaz from the auction gave rise to suspicions that the company took part in the auction only to lend legitimacy to the proceedings and do a favor for Russian authorities.

One shareholder expressed doubts about the morality of the company's involvement in the auction, while another was concerned that the company's activities in Russia would lead to another fall in the price of the company' stock, which has already fallen from 723 pence to 552.