as mcx tnbp industry oil and gas predecessor tnk onako sidanko founded 2003 2003 moscow headquarters moscow russia key people eduard khudainatov appointed ceo 1 products petroleum natural gas refined oil products revenue us 60.2 billion 2011 net income us 9.0 billion 2011 total assets us 37.1 billion 2011 owner rosneft number of employees approximately 50 000 website www.tnk bp.com en dead link tnk bp tyumenskaya neftyanaya kompaniya tyumen oil company was a major vertically integrated russian oil company headquartered in moscow . it was russia s third largest oil producer and among the ten largest private oil companies in the world . 2 3 in 2013 it was acquired by russian oil company rosneft . 1 4 degolyer and macnaughton confirmed that as of 31 december 2009 tnk bp s total proved reserves amounted to 11.667 billion barrels 1.8549 10 9 m3 of oil equivalent applying prms formerly spe criteria . proved reserves constitute a total proved prms reserve replacement ratio of 329 % . 5 contents 1 history 2 corporate structure 3 operations 4 corporate disputes 5 environmental record 6 references 7 external links history edit on 1 september 2003 bp and a group of russian businessmen represented by the aar alfa access renova announced the creation of a strategic partnership to jointly hold their oil assets in russia and ukraine and creation of tnk . r contributed its holdings in tnk international onako sidanco rusia petroleum which held licenses for the kovykta field and the verkhnechonsk field and the rospan field in west siberia the new urengoy and east urengoy deposits . bp contributed its holding in sidanco rusia petroleum and its bp moscow retail network . in january 2004 bp and aar reached an agreement to incorporate aar s 50 % stake in slavneft into tnk bp . slavneft which has operations in russia and belarus was previously owned jointly by aar and sibneft now gazprom neft . citation needed in 2009 tnk bp increased production to 1.69 million barrels per day 269 10 3 m3 d of oil equivalent excluding tnk bp s share in slavneft production compared to 1.642 million barrels per day 261.1 10 3 m3 d of oil equivalent produced in 2008 . in 2009 tnk bp s total proved reserves replacement ratio reached 329 % according to prms methodology formerly known as spe . the average sec lof reserve replacement ratio over the past five years amounted to 139 % . on 18 october 2010 tnk bp and bp reached an agreement for tnk bp to acquire bp s upstream and pipeline assets in vietnam and venezuela for an overall price of us1 .8 billion . in october 2011 the tnk bp agreed to acquire a 45 % stake in amazon oil exploration blocks from brazil s hrt participaoes pt for 1 billion . 6 on 21 march 2013 rosneft completed acquisition of tnk bp . 1 4 as a result rosneft s vice president eduard khudainatov was appointed as a new ceo of tnk bp . 1 corporate structure edit rosneft owns tnk bp international limited which in turn owns 95 % of tnk bp holding with the other 5 % floating freely on public markets . 7 according to rosneft s ceo igor sechin no discussion had been held on a buyout of minority shareholders in tnk bp holding . 8 operations edit tnk bp is a vertically integrated oil company with a diversified upstream and downstream portfolio in russia and ukraine . its upstream operations are located primarily in siberia and volga urals region . in 2009 the company excluding its 50 % share in slavneft produced on average 1.69 million barrels per day 269 10 3 m3 d of oil equivalent . in downstream tnk bp controls 675 thousand barrels per day 107.3 10 3 m3 d in installed refining capacity with principal refining assets located in ryazan saratov nizhnevartovsk and lysychansk . the company operates a retail network of approximately 1 400 filling stations in russia and ukraine working under the bp and tnk brands . the company is one of the key suppliers to the moscow retail market and is a market leader in ukraine . one of tnk bp s strategic goals is to expand its natural gas business . its main gas asset in rospan international owned 100 % by tnk bp . rospan is located in the yamal nenets autonomous area with significant gas potential of 1.4 million barrels per day 220 10 3 m3 d of oil equivalent of natural gas 3p reserves and an ability to produce 15 billion cubic meters per year . one of tnk bp s stated long term aims is to enter into the international market . on 18 october 2010 tnk bp and bp reached an agreement for tnk bp to acquire bp s upstream and pipeline assets in vietnam and venezuela for an overall price of us1 .8 billion . according to the terms of the agreements in venezuela tnk bp will acquire from bp a 16.7 % equity stake in the petromonagas sa extra heavy oil producer a 40 % stake in petroperija sa which operates the dzo field and a 26.7 % stake in boqueron sa . in vietnam tnk bp will acquire from bp a 35 % stake in an upstream offshore gas production block containing the lan tay and lan do gas condensate fields a 32.7 % stake in the nam con son pipeline and terminal and a 33.3 % stake in the phu my 3 power plant . over 2009 despite an average decline in crude oil price of 36 % year on year tnk bp generated profit of 5 billion . since the company s emergence in 2003 tnk bp s profits have risen from 2.7 billion to 5.3 billion in 2009 . in 2009 tnk bp produced 12.5 billion cubic meters of associated petroleum gas with a utilization rate of 84.4 % . corporate disputes edit in 2008 a corporate dispute between the major shareholders arose as bp and aar seemed to have differing visions for the company s corporate governance structure and future strategy . during the dispute it was rumoured that some western bp executives experienced visa problems and the american ceo robert dudley was accused by aar of having violated russian laws . 9 on 4 september 2008 the parties to the dispute signed a five page memorandum of understanding thus signaling the end of the disagreements . 10 robert dudley stepped down from his role as ceo of tnk bp and aar achieved to have their president mikhail fridman installed as interim ceo . since then an independent ceo maxim barsky has been appointed and will officially take up his position in 2011 . after the dispute was settled the general consensus was that although aar had increased its influence bp would be happy to keep its 50 % stake as tnk bp represented 24 % of bp s production and 19 % of total reserves in 2007 . some investors had feared bp might lose its interest in tnk bp with only minimal compensation . 11 tony hayward bp s chief executive at the time described the five page memorandum as a very sensible and pragmatic way of looking forward . 10 in january 2010 bp and its russian co shareholders held their first joint media briefing to pronounce their tensions gone and tnk bp . s prospects bright . 12 in january 2011 bp and russia s state oil company rosneft formed a strategic partnership on arctic development . in march 2011 the stockholm international arbitration court blocked the bp rosneft deal as breaching tnk bp earlier contractual arrangements . bp had previously signed a shareholding agreement with aar which stipulated that tnk bp would be the primary corporate vehicle for bp s oil and gas operations in russia . 13 aar s legal action led to the collapse of the bp rosneft deal in august 2011 when bp was replaced with exxonmobil as rosneft s strategic foreign partner in the arctic . environmental record edit tnk bp has been criticized for its siberian oil spills . in 2012 russia s natural resources minister yuri trutnev announced that regulators plan to seek damages from tnk bp as one of the biggest polluters of the ob and yenisei river basins in siberia . he also recommended the company prepare a plan for replacing its pipelines . each year 300 000 to 500 000 tonnes of oil and oil products are leaked into the ob and yenisei river basins with tnk bp the biggest offender . in 2011 tnk bp reported a total 1 186 pipeline ruptures . according to tnk bp the company has paid 2.1 billion for clean up since 2003 and has established a 500 million fund to resolve the inherited environmental problems accumulated since 1962 . 14 15 references edit a b c d rosneft finalizes tnk bp deal becomes world s largest oil producer . rt. 2013 03 21 . retrieved 2013 03 25 . oil and gas eurasia accessed 4 february 2011 rusmergers accessed 4 february 2011 a b soldatkin vladimir ; callus andrew 2013 03 22 . rosneft pays out in historic tnk bp deal completion . reuters . retrieved 2013 03 25 . tnk bp at a glance tnk bp official site accessed 10 february 2011 tnk bp to buy 1bn stake in amazon venture . 31 october 2011 . efinancialnews accessed 10 18 11 . lehane bill 23 october 2012 . sechin points to multi billion tnk bp synergies . upstream online . nhst media group . retrieved 24 october 2012 . guardian oligarchs to sue tnk bp after failing to agree control of company 12 june 2008 . a b strained relations thaw over tnk bp financial times 5 september 2008 . tnk bp dispute settled accessed 9 february 2011 tnk bp hails new spirit of cooperation for joint venture afp dow jones newswires accessed 14 february 2011 bp russian billionaires and the kremlin a power triangle that never was oxford energy comment november 2011 accessed 24 november 2011 afp russia blames tnk bp for massive oil leaks tnk bp says oil spills inherited ; shares fall on putin rebuke . businessweek . external links edit official website dead link v t e bp divisions air alaska amoco ampm aral arco australia bp connect britoil burmah canada castrol iraq national rosneft 19.75 % shell mex and bp ohio prudhoe bay solar shipping facilities oil fields amoco building chicago amoco building new orleans arco tower atlantis deepwater horizon helios house kingsbury iolair mad dog northstar richfield tower sangachal sea quest fpso noble seillean sullom voe thunder horse sponsorships arco arena bp ford world rally team bp national championships 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