TNK-BP in the news

23 December 2008, Tuesday TNK-BP Will Start Industrial Development of the Ust-Tegusskoe and Urnenskoe Oil Fields of the Uvat Project in Q1 2009
The Public Relations Department of TNK-BP Sibir, a subsidiary of TNK-BP Management in Tyumen, informed that implementation of the Uvat project will be started from the eastern group of fields, namely, the Ust-Tegusskoe and Urnenskoe oil fields.
17 December 2008, Wednesday Verkhnechonskneftegaz Will Produce 1 Million Tons of Oil in 2009

The oil company Verkhnechonskneftegaz, developing the Verkhnechonskoe oil and gas condensate field, one of the largest fields in Eastern Siberia, is going to produce 1 million tons of oil in 2009 and raise its annual production of hydrocarbons up to 7­–8 millions tons by 2014, Igor Rustamov, General Director of Verkhnechonskneftegaz, said to journalists on Tuesday.

12 December 2008, Friday The Optimists from TNK-BP
TNK-BP believes in a strong rouble and costly oil. The company’s 2009 budget is based on an oil price of $60 per barrel and a dollar rate of 30 roubles.
12 December 2008, Friday The Headless Horseman
According to reports from TNK-BP, the Board or Directors focused on purely operational issues. At yesterday’s meeting the 2009 business plan was approved. This is based on holding oil production at this year’s level (600 million barrels of oil equivalent) and makes the following assumptions: an average Brent oil price of $60 over the year, a dollar rate of 30 roubles, a 10% increase in electricity and Transneft pumping tariffs, and zero growth in all other costs.
10 December 2008, Wednesday Price for ВР Ultimate Goes Down by 1 Rouble 50 Kopecks

TNK-BP has announced today that its BP retail network is further reducing the price for its gasoline grades, including ВР Ultimate – fuel of the new generation in the premium price segment.

09 December 2008, Tuesday Tariff Trap
TNK-BP holds that the current tariff policy is unsubstantiated and inefficient for Russian oil producers. Jonathan Kollek, Vice President, STL, TNK-BP, said at a press conference yesterday that while oil prices are plummeting down oil transportation tariffs remain intact and, as a result, the cost of oil transportation become higher than the cost of oil. According to his estimates, currently the oil transportation tariff is 7–12% of the cost of oil.
09 December 2008, Tuesday TNK-BP Will Start Signing Long-Term Contracts with Air Companies Based on a Price Formula Beginning from 2009

Beginning from 2009, TNK-BP will start signing long-term jet fuel supply contracts with air companies based on a price formula, Jonathan Kollek Vice President, Sales, Trading and Logistics (STL), TNK-BP, said to the press.

09 December 2008, Tuesday The Swap Agreement of Transneft, Rosneft and TNK-BP Will Save $50 Million a Year

The agreement on swap supplies of oil signed by TNK-BP, Rosneft and Transneft in mid 2008 will allows these companies to save up to $50 million a year, Jonathan Kollek Vice President, Sales, Trading and Logistics (STL), TNK-BP, said to journalists.

01 December 2008, Monday Vekselberg: Oil Export Duty of $192.1 Makes Development of Major Projects Impossible

The oil export duty of $192.1 per ton enforced on December 1 makes development of major projects by companies impossible, Viktor Vekselberg, Executive Director, Gas Business Development, TNK-BP, said to journalists.

28 November 2008, Friday TNK-BP Is Interested in Swap Operations on the Market of Oil Products

TNK-BP is interested in swap operations in the market of oil products, Alexander Kaplan, Acting Executive Vice President, Downstream, TNK-BP, said to journalists on Thursday. “We always were for swap operations, but the market environment is not ready for them yet,” said he.