Search results for: TNK-BP

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  • 28 May 2012
    Business & Finance

    Mikhail Fridman has submitted a letter of resignation to TNK-BP Ltd.’s Board of Directors, notifying his resignation from the position of Chief Executive Officer of the TNK-BP Group. Mikhail Fridman has also sent TNK-BP shareholders a letter of resignation from the position of Chairman of the Management Board of TNK-BP Management, a Russian subsidiary of […]

  • 21 October 2011
    Business & Finance

    TNK-BP announces that Deputy Chairman of TNK-BP Management Board Maxim Barskiy has decided to leave TNK-BP as of 1 November in order to carry on his professional career outside of the Company. Maxim Barskiy was appointed Deputy Chairman of the Management Board on June 1, 2010 and performed management of the Company through organizing the […]

  • 21 October 2011
    Business & Finance

    TNK-BP said recently that the Vietnamese Ministry of Investment and Trade has granted TNK Vietnam, the Vietnam-based subsidiary of TNK-BP Group, the investment license to operate offshore gas Block 06.1, part of the Nam Con Son Integrated Gas to Power Project. TNK-BP has acquired from BP a 35% stake in the offshore gas condensate production […]

  • 30 January 2013

      TNK-BP announced that OJSC Orenburgneft (a TNK-BP Group company) produced 3.4 bcm of gas in 2012, which is 26% more than in 2011. TNK-BP has been implementing a large-scale program aimed at production development in the mature fields of the Orenburg Region, one of the oldest petroleum provinces in Russia which has been exploited […]

  • 20 April 2012
    Business & Finance

    TNK-BP announced yesterday that the group’s subsidiary TNK Vietnam has successfully completed the drilling of two development wells on the Lan Đỏ offshore field in Vietnam. TNK Vietnam began drilling operations on subsea development wells on January 14, 2012. Their construction on the Lan Đỏ field took 94 days to complete and proceeded at depths […]

  • 4 September 2008

    BP confirmed on Thursday that it has signed an agreement aimed at keeping its half stake in TNK-BP – Russia’s third-biggest oil company. The development apparently resolves a long-ranging battle for control with its local partners. BP said in a statement that an overhaul of the governance structure of TNK-BP was agreed in principle by […]

  • 24 October 2011
    Business & Finance

    TNK-BP shareholders Alfa, Access, Renova (AAR) and BP have agreed a number of decisions regarding senior management roles at TNK-BP. It is expected that these decisions will be formally approved by the Board of Directors and implemented before the close of the current year. The decisions reflect the shared commitment of the joint-venture partners to […]

  • 13 November 2012

    UK’s BP and Russian consortium AAR, joint shareholders in TNK-BP, today announced that they have reached a comprehensive agreement to settle all outstanding disputes between them, including the current arbitrations brought by each against the other. The agreement includes an immediate waiver of the new opportunities provision in the TNK-BP shareholder agreement, allowing each party […]

  • 22 March 2013
    Business & Finance

    BP announced today that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to return to BP shareholders an […]

  • 21 January 2013

    TNK-BP said that the cumulative gas production of CJSC ROSPAN INTERNATIONAL (a TNK-BP Group company) amounted to 30 bcm. According to the preliminary estimates, the company produced 3.5 bcm of gas in 2012. TNK-BP has been consistently implementing the unified full field development plan for the Achimov formations of the Rospan fields. The first development […]

  • 21 March 2013
    Business & Finance

    Russia’s state-owned oil company Rosneft has today completed one of the largest oil industry acquisitions in history. Rosneft today finalised two separate transactions with British oil company BP and Russia’s AAR consortium to acquire TNK-BP. Rosneft has bought BP’s 50% share in TNK-BP in exchange for $16.65 billion in cash and 12.84% of Rosneft shares. […]

  • 22 March 2013

    BP announced that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to return to BP shareholders an amount […]

  • 18 October 2010

    BP announced today that it has reached agreement to sell its upstream businesses and associated interests in Venezuela and Vietnam to TNK-BP for a total of $1.8 billion. TNK-BP, Russia’s third largest oil company, is owned equally by BP and the AAR Consortium (comprising Alfa Group, Access Industries and Renova). The agreement includes BP’s interests […]

  • 17 October 2012

    Russian consortium AAR has decided to sell its share in TNK-BP to Rosneft for USD 28 billion, Reuters has reported, citing a source close to the matter. TNK-BP is Russia’s third largest oil company and is parity-owned by UK’s BP and AAR (a consortium of Alfa Group, Access Industries, and Renova). The company was formed […]

  • 10 December 2012

    TNK-BP announced completion of construction of a gas pipeline from its Verkhne-Kolik-Yoganskoe field to the Bakhilovskaya Compressor Station. The pipeline is 13.4 km long and has a throughput capacity of 300 million cubic meters per year. The total project investment amounted to 410 mln rubles. The commissioning of the gas pipeline from the Verkhne-Kolik-Yoganskoe field […]

  • 9 October 2012
    Business & Finance

    TNK Vietnam, a fully owned subsidiary of TNK-BP, today announced that the Company has produced the first gas from Lan Do field in Block 06.1, about 360km offshore south of Ba Ria Vung Tau Province in Vietnam. Lan Do wells were opened for gas production at 20:40 local time on Sunday, 7 October 2012. The […]

  • 1 June 2012

    British oil major BP announced today that it has received unsolicited indications of interest regarding the potential acquisition of its stake in TNK-BP. TNK-BP is a leading Russian oil company, owned equally by BP and Alfa Access Renova. The company was formed in 2003 as the result of the merger of BP’s Russian oil and […]

  • 9 October 2012

    TNK Vietnam, a fully owned subsidiary of TNK-BP, announced that the Company has successfully produced the first gas from Lan Do field in Block 06.1, about 360km offshore south of Ba Ria Vung Tau Province in Vietnam. Lan Do wells were opened for gas production at 20:40 local time on Sunday, 7 October 2012. The […]

  • 1 June 2012

    BP of UK announced today that it has received unsolicited indications of interest regarding the potential acquisition of its shareholding in TNK-BP. In light of these unsolicited approaches and consistent with its commitment to maximising shareholder value, and its obligations under the Shareholder Agreement, BP has notified Alfa Access Renova of its intention to pursue […]

  • 21 March 2013

    Rosneft and BP today completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions: BP receives net $12.48 billion in cash, including a TNK-BP dividend of $0.71 billion, and 18.5 per cent Rosneft shares; Rosneft becomes holder of BP’s 50 per cent interest in TNK-BP […]

  • 23 November 2012

    BP, Rosneft and Rosneftegaz — the state-owned parent company of Rosneft — have signed definitive and binding sale and purchase agreements (SPAs) for the sale of BP’s 50 per cent interest in TNK-BP to Rosneft and BP’s investment in Rosneft. BP and Rosneft agreed heads of terms for this transaction on October 22. The SPAs […]

  • 23 November 2012

    BP, Rosneft and Rosneftegaz , the state – owned parent company of Rosneft, have signed definitive and binding sale and purchase agreements (SPAs) for the sale of BP’s 50 per cent interest in TNK-BP to Rosneft and BP’s investment in Rosneft. BP and Rosneft agreed heads of terms for this transaction on October 22. The […]