TNK-BP plans to offer at least 20% of its fuels at exchange floors as of the end of 2010

Октября 15, 2010

TNK-BP sold 442,000 tons of petroleum products via exchange trading in July-September, which is 66% more than in 2Q 2010. Exchange sales of fuels made 17.3% of the domestic sales volume in July-September.

TNK-BP sold a total of 911,000 tons of fuels using exchange mechanisms over 9M 2010.
TNK-BP currently sells products of all of its refineries including Lisichansk Refinery (LINIK, Ukraine) via Russian exchange floors. At the same time, the company sells light products only, mostly in European Russia.
In 2009, TNK-BP began trading of refined products at the oil exchange. The main trading floors are the St. Petersburg International Mercantile Exchange and the Inter-regional Oil & Gas Exchange.
TNK-BP is Russia’s third largest oil company that is owned on a parity basis by BP and AAR consortium (Alfa Group/Access Industries/Renova). TNK-BP also owns ca. 50% of Slavneft, a Russian oil and gas company. TNK-BP produces ca. 16% of the total volume of Russian oil production (including TNK-BP interest in Slavneft). The total proven reserves owned by the company as estimated according to SEC LOF methodology amounted to 8.586 Bboe as of December 31, 2009.