TNK-BP

TNK-BP 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. In 2013, TNK-BP was acquired by Rosneft, the state-owned Russian oil company, becoming a part of one of the world's largest oil companies.

History

TNK-BP was established in 2003 as a result of the merger of BP's Russian oil and gas assets and the oil and gas assets of Alfa, Access/Renova group (AAR). The merger was a strategic move to combine BP's significant oil and gas interests in Russia with AAR's local expertise, creating a new entity capable of significant growth.

Operations

TNK-BP's operations included exploration, production, refining, and marketing of oil and gas. The company had a strong presence in Russia's key oil and gas regions, including Western Siberia, Eastern Siberia, the Volga-Urals region, and the Yamalo-Nenets Autonomous Okrug. TNK-BP also had international operations in Ukraine, Vietnam, Brazil, and Venezuela.

Acquisition by Rosneft

In 2013, Rosneft acquired TNK-BP in a deal valued at $55 billion, marking the largest deal in the Russian oil sector. The acquisition was part of Rosneft's strategy to consolidate the Russian oil industry and increase its global competitiveness. Following the acquisition, Rosneft became the world's largest publicly traded oil company.

Impact

The acquisition of TNK-BP by Rosneft has had a significant impact on the Russian oil industry. It has led to increased consolidation in the industry and has strengthened Rosneft's position as a leading global oil company. The deal has also had implications for international oil markets, as Rosneft's increased production capacity has the potential to influence global oil prices.

See also

• Oil industry
• Rosneft
• BP
• Alfa Group
• Access Industries
• Renova Group

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