All TNK-BP Domestic Refineries Trade Products at Exchange

TNK-BP sold 228,240 tons of petroleum products at the exchanges in the first quarter of 2010.
In March 2010, TNK-BP brought the products of Nizhnevartovsk Refining Company in a volume of 5,760 tons and of Krasnoleninsk Refinery in a volume of 720 tons to the exchange.
Apart from daily participation in the exchange trading, TNK-BP continues price auctions at the Saint-Petersburg International Mercantile Exchange. The next auction to sell large wholesale consignments of petroleum products is scheduled for April 26. We plan to auction 20,520 tons of petroleum products including 7,560 tons of A-92 gasoline and 12,960 tons of diesel fuel.
‘We keep striving towards complete transparency and openness of petroleum product trading in Russia. TNK-BP believes that exchange trading is the only way to determine a fair market price for our products. It is for this reason that our sales subsidiaries take part in the same trading as buyers. We will adhere to the policy of selling at least 15% of our Russian petroleum product volumes through competitive bidding. TNK-BP hopes that the regulatory authorities will in the shortest time recognize the exchange trading prices of oil products as market prices. This decision will attract new participants in exchange trading”, said Didier Baudrand, Executive Vice President, Downstream — Executive Director of TNK-BP.