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.
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.
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.
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.
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.