TNK-BP in the news

TNK-BP has introduced a new system of purchasing of railway transportation services. The company has created its own pricing formula for bulk oil shipments and will choose operators on the basis of the discounts they are able to apply to this formula.

Light products yield at TNK-BP refineries amounted to 55.34% in 2009, versus 55.52% in 2008, according to the сompany materials. Actual yield at TNK-BP refineries totaled 33.765 mln tons in 2009, versus 34.975 mln tons in 2008.

Deputy Prime Minister Sechin took part in the ceremony of inauguration of the first joint on Purpe – Samotlor pipeline near Nizhnevartovsk yesterday. He cut a red ribbon symbolizing the start of construction together with Nikolai Tokarev, Transneft President. Immediately after the first joint had been welded, the guests handed named watches to welders and left commemorative signatures on the ‘pipe’.

TNK-BP finds it expedient to make associated petroleum gas (APG) utilization requirements more flexible for greenfields. German Khan, TNK-BP Executive Director, said to the media that greenfield subsurface specificities and development conditions frequently make greenfield APG utilization uneconomic.

Russian oilmen understand the necessity of training new specialists and developing the scientific capability. Vladimir Putin got assured of that late last week when he visited Tyumen Petroleum Research Center (TPRC) owned by TNK-BP. In his turn, he advised oilmen to provide more workload for the Russian industry.

Russia’s No.3 oil firm TNK-BP expects 2010 hydrocarbon output to rise by 1—2 percent excluding the Slavneft business, chief operating officer Bill Schrader told Reuters in an interview late Friday.

TNK-BP spends about 200 million rubles per year to implement educational projects, German Khan, TNK-BP Executive Director, said to RIA Novosti. TNK-BP provides training for reservoir management research and engineering personnel in the company-owned Tyumen Petroleum Research Center. The Center was visited by Prime Minister Putin on Friday as part of his trip to Tyumen.

TNK-BP is trying to bring to 95% its level of associated petroleum gas (APG) utilization. Although the company still has almost two years to do so, the standard that is established by the government program is already complied with in some fields. Bill Schrader, TNK-BP COO, said yesterday that APG utilization projects would get $450M of investment this year and the total volume of investment would approximate $1.8B.

The first tanker carrying East Siberian oil for Japan is to depart from Kozmino seaport in the Russian Far East on Friday. According to ITAR-TASS, Kiodo information agency announced the news today referring to sources in the Japanese business community.

TNK-BP will host global investor conference call and webcast to present its 4Q and 2009 operational and financial results. The call is scheduled for Monday 1^st March, at 17:00 MSC / 14:00 LDN / 09:00 NY.