TNK-BP Ltd., Russia 's third-largest oil producer, isn't considering any lawsuits against U.K. oil major BP PLC (BP), its 50% partner in the joint venture, and is no longer chasing participation in a deal signed between BP and OAO Rosneft (ROSN.RS), TNK-BP's chief financial officer said Wednesday.

Jonathan Muir made the statements about the dispute between the TNK-BP shareholders, in which Russia 's Alfa-Access-Renova, or AAR , a consortium that owns 50% of TNK-BP, accused BP of violating the shareholder agreement.

Speaking to reporters, Muir said the company will pay a first-quarter dividend "as usual," but has yet to decide on an additional dividend payment for the quarter.

Muir also said the company is facing a loss of about $450 million between May and December, due to a decision to cancel a reduced export duty from the company's East Siberian fields ahead of time. This week, the government decided to end the tax break on East Siberian oil on May 1 instead of the beginning of 2012 as had been previously expected.

Muir was speaking as TNK-BP International reported an almost doubling of its first-quarter net profit on higher oil prices. TNK-BP International is the parent company of Moscow-listed TNK-BP Holding (TNBP.RS), which is responsible for a quarter of BP's oil output.

TNK-BP International said net profit under U.S. GAAP accounting standards for January to March was $2.44 billion, up 91% from $1.27 billion a year earlier. The company's daily production stood at 1.771 million barrels of oil equivalent in the quarter, slightly up from 1.766 million barrels of oil equivalent in the fourth quarter.

TNK-BP International's revenue jumped 35% to $13.82 billion from $10.24 billion a year earlier. Operating cash flow was $2.33 billion in the first quarter, while earnings before interest, taxes, depreciation and amortization, or Ebitda, totaled $3.94 billion.
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