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Press releases in 2005

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December 21, 2005, Wednesday
TNK-BP Assets Sold To RussNeft
TNK-BP and RussNeft today announced they had completed the sale by TNK-BP of assets at OJSC “Saratovneftegaz”; OJSC “Orsknefteorgsintez”; OJSC “Orenburgnefteprodukt” and OJSC “Neftemaslozavod” to RussNeft.
December 19, 2005, Monday
Upgrade at Ryazan Refinery

TNK-BP today announced the commissioning of a major upgrade of the Ryazan refinery with the inauguration of the vacuum gasoil hydrotreater unit. This represents substantial completion of a comprehensive modernization project at the refinery originally begun in 2000.

December 19, 2005, Monday
TNK-BP Corporate Restructuring
TNK-BP announced today that it has completed two critical steps in its corporate restructuring project. The project was launched in early 2005 and is aimed at simplification of TNK-BP’s corporate structure and more efficient management of the group.
December 14, 2005, Wednesday
TNK-BP Appoints New Chief Financial Officer

TNK-BP is pleased to announce the appointment of James Martin Owen to the position of Chief Financial Officer. Mr. Owen will take up his appointment with TNK-BP in mid-January 2006.

November 15, 2005, Tuesday
New TNK-BP Board Director Appointed

TNK-BP today announced the appointment of Robert A. Sheppard to its Board of Directors. The appointment is effective from 1 November 2005.

October 03, 2005, Monday
TNK-BP Announces Completion of Voluntary Share Exchange Program

TNK-BP announced today that document collection for its program of voluntary exchange of shares in 14 TNK-BP subsidiaries for shares in TNK-BP Holding, was completed on 30 September as planned.

September 21, 2005, Wednesday
TNK-BP Moderates Retail Prices

TNK-BP today announced that the company had taken a decision to moderate its retail prices at market levels prevailing in September. Pricing restrictions will stay valid till the end of 2005, and are going to include those service stations that are directly owned by the company in Russia. 

September 19, 2005, Monday
TNK-BP Board Considers Retail Fuel Prices

TNK-BP today announced that its Board of Directors met on September 15th for its annual strategy review.

September 09, 2005, Friday
TNK-BP Second Anniversary

To mark the company’s second anniversary, TNK-BP President and CEO Robert Dudley described headline achievements since 29th August 2003 when TNK-BP commenced operations.

September 08, 2005, Thursday
TNK-BP Established a Guaranteed Debt Issuance Programme
TNK-BP today announced that on 7th September 2005, acting through its subsidiary TNK-BP Finance S.A, it established a US$5 billion Guaranteed Debt Issuance Programme which has been approved for listing and regulated market trading purposes by the Luxembourg Stock Exchange. The Programme provides for the issuance of Notes and will be used by the company for short-, medium- and long-term international debt issuance.
August 17, 2005, Wednesday
TNK-BP Funds Pilot Development of the Verkhnechonskoye Field
TNK-BP confirmed today that its Board of Directors has agreed to fund up to $270 million for pilot development of the Verkhnechonskoye oil and gas condensate field in the Katangsky Region of the Irkutsk Oblast. 
August 10, 2005, Wednesday
TNK-BP Receives Results of Tax Review
TNK-BP has received a ruling from the Federal Tax Service relating to the results of the repeat tax audit of TNK for 2001, amounting to R6.98 billion. This ruling reflects the response submitted by TNK to the earlier findings of the tax audit.
August 03, 2005, Wednesday
TNK-BP Announces Subsidiary Share Exchange

TNK-BP today announced the launch of a program to exchange minority shares in its 14 Russian subsidiaries for shares in OAO TNK-BP Holding.

July 11, 2005, Monday
TNK-BP Concludes Oracle Software Deal

TNK-BP announced today that it had recently concluded a license agreement with authorized Oracle reseller ZAO-IT for the use of Oracle software.

May 26, 2005, Thursday
TNK-BP and TMK Sign Term Cooperation Agreement

TNK-BP and TMK, the major Russian oil pipeline manufacturer, have signed an agreement on cooperation and technological collaboration which sets new benchmarks in supply chain management practices in Russia.

May 23, 2005, Monday
TNK-BP Commits to Irkutsk Regional Gasification

TNK-BP today announced that it’s Board of Directors had approved expenditure of $136 million for design and construction of the “Early Gas” phase of the Kovykta Project in East Siberia.

April 27, 2005, Wednesday
TNK-BP replaces 127% of production with new reserves
TNK-BP today released the results of the independent audit of its reserves as at the end of 2004. This represents the second complete audit of the company’s reserves since its creation in August 2003.
March 01, 2005, Tuesday
TNK-BP EGM’s Endorse Restructuring

TNK-BP today announced that Extraordinary General Meetings of Shareholders (“EGMs”) of each of its three holding companies, OAO TNK, OAO ONAKO and OAO Sidanco (TNK, ONAKO and Sidanco) had today overwhelmingly adopted resolutions approving the proposed accession of these companies into OAO TNK-BP Holding (TNK-BP Holding).

January 14, 2005, Friday
TNK-BP Details Restructuring Terms
On December 30th 2004, the Board of Directors of each of its three holding companies, OAO TNK, OAO ONAKO and OAO Sidanco (“TNK, ONAKO and Sidanco”) adopted resolutions calling for Extraordinary General Meetings of Shareholders (“EGMs”) to consider and vote on reorganization in the form of accession to OAO TNK-BP Holding (“TNK-BP Holding”).
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