Press releases

The Board of Directors of TNK-BP Limited, the main holding company of the TNK-BP group of companies, reviewed the company’s performance in 2010 and plans for 2011.

The Board of Directors noted that 2010 was another good year for the company with business plan targets being exceeded in nearly all segments.

OJSC TNK-BP Holding announced today that it has received approval from MICEX and RTS for its shares to be admitted to trading at these Russia’s main stock exchanges. Trading of both TNK-BP Holding ordinary and preferred shares will commence on 6 December 2010.

TNK-BP announced that its Russian holding company, OJSC TNK-BP Holding (TBH), held an extraordinary general shareholders meeting on 18 November 2010.

TNK-BP and state company Russian Highways (AVTODOR) signed a Cooperation Agreement today aimed at developing Russia’s transport infrastructure, introducing innovative technologies in the roads sector and improving the standards of service and safety on the country’s long-distance highways.

TNK-BP announces that today, as part of its strategy to expand its business internationally, the company has signed a cooperation agreement with the Vietnamese state corporation PetroVietnam outlining the further steps and activities to be undertaken as part of the companies’ long-term cooperation.

TNK-BP today reported its results for the nine months ended September 30^th, 2010.

On 14 October 2010 TNK-BP entered into a US$2.0bn unsecured dual tranche facility agreement with a club of international banks. The new facility is the largest debt transaction arranged by TNK-BP since inception. The maturity of the loan is 3 years and the interest rate is 1.75% per annum above LIBOR. The facility is to be used for general corporate purposes.

TNK-BP and BP p.l.c. announced today that they have reached an agreement for TNK-BP to acquire BP’s upstream and pipeline assets in Vietnam and Venezuela for an overall price of $US 1.8 billion.

TNK-BP sold 442,000 tons of petroleum products via exchange trading in July-September, which is 66% more than in 2Q 2010.

OJSC TNK-BP Holding Board of Directors has resolved to convene an extraordinary general shareholders’ meeting, to be held in the form of absentee vote, on November 18, 2010. The extraordinary general shareholders’ meeting will consider payment (declaration) of dividends for 9 months of 2010. The record date is October 12, 2010.