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Last updated on April 20, 2014 at 5:20 EDT

Latest TNK-BP Stories

2013-09-04 04:22:39

AMSTERDAM, Sept. 4, 2013 /PRNewswire/ -- "VimpelCom Ltd." ("VimpelCom", "Company" or "Group") (NYSE: VIP), a leading provider of telecommunications services, today announces the promotion of Anton Kudryashov to the Group Executive Board as Chief Group Business Development and Portfolio Officer with effect from 14 October 2013, and the appointment of Mikhail Slobodin as Head of the Russia Business Unit, effective immediately. In his new role Anton Kudryashov will be based at the Group...

2013-06-21 08:20:59

GENEVA, June 21, 2013 /PRNewswire/ -- Rosneft President and Chairman of the Management Board Igor Sechin and Trafigura Chairman and CEO Claude Dauphin have signed a five year contract with a prepayment to supply crude oil and petroleum products. The contract has been signed at the St Petersburg International Economic Forum and was previously approved by Rosneft Board of Directors on June 18, 2013. Under this contract Rosneft plans to export up to 10.11 million tons of...

2013-06-17 08:23:50

LONDON, June 17, 2013 /PRNewswire/ -- L1 Energy has been established as the global oil and gas investment vehicle of Alfa Group, one of Russia's leading privately held investment companies. L1 Energy is part of LetterOne Group, Alfa Group's new international corporate investment vehicle, which will also include the Group's telecommunications assets as well as its financial assets resulting from the sale of its stake in TNK-BP. An L1 Energy international Advisory Board has been formed...

2012-12-12 08:22:55

MOSCOW, Dec. 12, 2012 /PRNewswire/ -- Rosneft and the consortium of Alfa Group, Access Industries and Renova (AAR) today signed a sale and purchase agreement for the 50% stake in TNK-BP. The transaction price is set on the basis of the valuation of AAR's TNK-BP stake at $28 billion. Completion of the deal is expected in the first half of 2013 after receiving approvals from Russian and EU antimonopoly regulators. Commenting on this agreement, Rosneft President Igor Sechin said: "We consider...

2012-11-08 08:26:54

MOSCOW, Nov. 8, 2012 /PRNewswire-USNewswire/ -- AAR confirms that it has reached agreement with BP to restore the normal functioning of the Board of Directors of TNK-BP Limited. The parties agreed to amend certain provisions of the Articles of Association of TNK-BP Limited. The agreed amendments will allow the current TNK-BP Board of Directors, which still lacks a third independent director, to make decisions on matters requiring simple majority approval, as well as unanimous reserved...

2012-10-22 11:22:34

MOSCOW, Oct. 22, 2012 /PRNewswire/ -- AAR announces that it has signed Heads of Terms (Memorandum of Understanding) to sell its 50% interest in TNK-BP Ltd. to Rosneft for an aggregate price of US$28 billion in cash. BP has provided a waiver of its right to hold good faith negotiations with AAR over a 90-day period as stipulated by the TNK-BP Shareholder Agreement. The transaction is subject to finalization of a share purchase agreement and other customary closing conditions. Chief...

2012-08-19 14:20:05

NEW YORK, Aug. 19, 2012 /PRNewswire/ -- Energy price fluctuations and ruble devaluation along with political instability in Russia are likely to cause major changes in the Russian energy sector. Recent major conflicts in the industry, TNK-BP and Timan Oil and Gas, are the first indications of a reshuffle in the Russian energy sector, according to analysis by RUXX index that tracks Russian equities. BP has been looking for buyers for its stake in TNK-BP, the third-largest Russian oil...

2012-07-13 02:20:23

HOUSTON, July 13, 2012 /PRNewswire/ -- Kraton Performance Polymers, Inc. (NYSE: KRA), a leading global producer of styrenic block copolymers or SBCs, and TNK Bitumen Performance, a unit of TNK-BP, a leading Russian oil company and producer of TNK Alfabit, a polymer-modified bitumen, are pleased to announce the successful pavement of the first-ever, Russian circuit Moscow Raceway, a multifunctional raceway circuit, located 77 kilometers from Moscow along the Novorizhsky Highway. (Photo:...

2012-06-01 06:21:11

MOSCOW, June 1, 2012 /PRNewswire/ -- AAR has received from BP a Notice of Intention to dispose of Stock Units in TNK-BP. The notification contained no details on the third party BP is looking to sell its interest to or the terms of the potential transaction. Since its establishment in 2003 TNK-BP has been highly successful in delivering consistent production growth, strong cash flows and exceptional reserve replacement. However it has become apparent that the parity ownership structure...

2012-05-28 02:20:24

MOSCOW, May 28, 2012 /PRNewswire/ -- Mikhail Fridman has submitted a letter of resignation to TNK-BP Ltd.'s Board of Directors, notifying his resignation from the position of Chief Executive Officer of the TNK-BP Group. Mikhail Fridman has also sent TNK-BP shareholders a letter of resignation from the position of Chairman of the Management Board of TNK-BP Management, a Russian subsidiary of TNK-BP Group which manages the Company's assets in Russia and Ukraine, including the publicly traded...