IATA Upgrades Quality Control System and Service Level Ratings of Koltsovo Fuel Filling Complex
TNK-BP announces that International Air Transport Association (IATA) has upgraded its quality control system and service level ratings for Koltsovo Fuel Filling Complex (Yekaterinburg). Since the acquisition of Koltsovo Fuel Filling Complex, Russia’s fifth largest fuel filling complex, in March this year, TNK-BP has been implementing an integrated FFC …
TNK-BP Top Managers Answer Employees’ Questions Regarding the Company’s Future Development in a Live Q&A Session
TNK-BP informs that for the first time in the history of the Company, the central office hosted a large-scaled videoconference between the top executives and employees from all the regions of the Company’s presence. TNK-BP’s internal communications system is one of the best in Russia, ensuring active feedback from the …
BP and AAR Settle All Outstanding Disputes
BP and AAR, joint shareholders in TNK-BP, today announced that they have reached a comprehensive agreement to settle all outstanding disputes between them, including the current arbitrations brought by each against the other. The agreement includes an immediate waiver of the new opportunities provision in the TNK-BP shareholder agreement, allowing …
TNK-BP Invests over $1 Billion in Pipeline Integrity Program
TNK-BP informs that the total investment in the comprehensive pipeline repair and replacement program commenced in 2004 exceeded $1 billion. About 70% of this amount was used to ensure the integrity of the in-field oil pipelines operated in the Samotlorskoe field (Russia’s biggest oilfield). The overall length of the field’s …
TNK-BP to Invest $58 mln in Development of Retail Sites Chain in Ukraine in 2012–201
TNK-BP informs that its investment in the development of retail sites chain in Ukraine in 2012–2013 will amount to $58 million. At the moment, the Company is executing 35 rebranding and reconstruction projects at retail sites in Ukraine: 23 gas stations are undergoing rebranding to Orange Dot format; construction and …
TNK-BP Warning of Abusive Market Players Acting on Behalf of Ryazan Oil Refinery Company
ТNК-ВР issues a warning about potential risks caused by cooperation with abusive market players that act on behalf of CJSC RORC (part of the TNK-BP Group of Companies). In view of requests from the organizations that are offered by unidentified persons to enter into contracts on behalf of CJSC RORC, …
TNK-BP to Introduce Professional Commitment Bonus
TNK-BP informs that this year, for the first time in the company history, its employees will be awarded Professional Commitment bonus. Approximately 213 million rubles will be set aside for this purpose. The idea of introducing such an award belongs to TNK-BP employees. The bonus is aimed at workers and …
TNK-BP to invest $97 Million in Construction of Sulphur Recovery Unit at RORC
ТNК-ВР informs that by 2016 it will invest $97 mln in the construction of a free sulphur recovery unit at the Ryazan Oil Refinery Company (RORC). By 2016 RORC will fully switch to the production of Euro-5 standard fuel, which contains five times less sulphur compounds as compared to the …
TNK-BP to Increase Investment in Associated Petroleum Gas Utilization Program to 62 Billion Rubles by 2015
ТNК-ВР reports the expansion of the associated petroleum gas (APG) utilization program: total investment in these projects will increase 12.7% to 62 bn rubles by 2015. Most investment is planned for 2012 – about 17 bn rubles, which is 25% more than last year. TNK-BP has been implementing a large-scale …
TNK-BP: Venezuelan JV PetroMonagas’s Production Increases 18% to 35.5 Million Barrels of Oil in 9 Months of 2012
TNK-BP announces an increase in oil production by JV PetroMonagas, a joint venture between TNK-BP (16.7%) and the Venezuelan state company PDVSA (83.3%), up to 35.5 million barrels in the first 9 months of 2012, which is 18% more than during the same period in 2011. Investment in project development …