Moody’s has today confirmed the Ba3 senior unsecured debt and foreign currency issuer ratings of JSC Tyumen Oil Company ("TNK") and the Ba2 senior implied rating of TNK International, the guarantor of TNKapos;s rated debt, which had been under review for possible downgrade following the companyapos;s successful bid for a 50% stake in Slavneft. The rating outlooks for the companies are positive.
BP reiterated Wednesday that it remained confident about prospects for its $6.8-bil Russian oil venture with TNK despite the legal and politic crisis surrounding Russian oil major Yukos. "We do not believe this case affects our investment and our ability to deliver value," Tony Hayward, head of BP's upstream division, told delegates at the annual Oil and Money conference in London.
ВР is finalizing the planning of the gas pipeline worth USD 12 billion (Ј7.2 billion) from Siberia for supplies to Eastern Asia. It is possible, that the gas pipeline will be laid down through the territory of the “rogue state” - North Korea.
, Moody's Investors Service, confirmed TNK’s principal unsecured rating in loans denominated in foreign exchange and domestic currency as Ba3, and the rating of TNK International that acts as TNK’s guarantor on external debt as Ba2. It was assumed, that the rating would go down after the successful acquisition of 50% in Slavneft.
ATC informed on November 6 that the Ukrainian Anti-Trust Committee (ATC) and nations major oil companies have entered into a cooperation memo whereby the latter undertook, in particular, not to violate competition laws, to assist ATC bodies in exercising their powers, and advise the Committee on market conditions and trends.
Next year TNK-BP is going to invest USD 83 million for business development in Ukraine, according to Antoni Considine, Executive Vice President of the company. In his words, the company is to invest USD 30 million into upgrading the Lisichansk refinery and USD 53 million into development of the petroleum product retail network.
According to RUSIA Petroleum that holds a license for the Kovykta gas condensate, signing of the agreement documents of the international feasibility study project to construct export gas pipeline from the Irkutsk Region to China and South Korea as part of the Kovykta field development project will take place at the level of working groups in Irkutsk on November 12.