TNK-BP in the news

Mikhail Fridman, the head and co-owner of TNK-BP, abruptly announced his resignation on Monday. Mr Fridman explained to Kommersant the reason for his decision, what brought about yet another conflict with BP and how the conflict could be resolved.

BP announced in a report yesterday that it has received $1 bn from TNK-BP for assets in Venezuela and Vietnam. The total cost of the deal is $1.8 bn, with the remaining funds to be paid after it has been closed in the first half of 2011. In Venezuela, TNK-BP is buying interests in oil assets, while in Vietnam the acquisitions are in infrastructure projects and the gas sector.

On 24 September, TNK-BP held the first supplier and contractor convention in its history, and probably the first in the history of big business in Russia. The convention was necessary to inform our contractors about the new working practices and to hear our partners’ concerns. TNK-BP’s Executive Vice President Anatoly Tyomkin told KP’s correspondent why it is important to give each contractor and supplier the opportunity to communicate directly with company management.

Recently, TNK-BP and its subsidiary Magistral—Card announced the launch of the program entitled “Unified TNK Fuel Card.” The TNK fuel card will become a single means of payment at all retail sites working under the TNK brand in Russia. The program is targeted at corporate car fleets, the owners of which are interested in using retail stations with unified standards of services and an extensive list of additional services (assistance on roads, car wash, tire filling, cafes, parking lots, and hotels on federal highways). Amir Feizulin, Vice President for Marketing in TNK-BP, spoke to RBK-Daily about other marketing initiatives of the company and trends in the retail fuel market.

For the first time a comprehensive emergency training to contain and clean up an oil spill was held by TNK-Nyagan on July 7. The training was held at Krasnoleninsky central tank farm of the Talinskoye field.

TNK-BP has boosted investment in the renovation and modernization of the Saratov Oil Refinery during the first half of 2010 to 200 million rubles, which is over 30% more than last year. The company plans to invest a total of 2.3 billion rubles in 2010 (compared to 1.8 bn rubles in 2009). Under the Cooperation Agreement signed between TNK-BP and the Government of Saratov Region, investment in the development of the company’s Saratov subsidiaries is to rise by 27% in 2010.

World War II memorial complexes and obelisks around Orenburg region are being restored with support from TNK-BP.

Saratov oil refinery’s river jetty has been made ready for the navigation season in line with a repair list compiled earlier. This involved mainly small repairs and painting of the equipment. The mooring wall still needs to be painted, and this will be done by a contractor during April and May.

TNK-BP is planning to start construction in 2011 of an oil production plant in the Yaroslavl region, TNK-BP Executive Director German Khan announced on Thursday while in Yaroslavl for the signing of a partnership agreement between the region’s government and TNK-BP for 2010—2011.