BP in Russia
BP has been operating in Russia since 1990. Our activities cover oil and gas exploration and production, refining, retail, and lubricants
TNK-BP is BP’s primary vehicle in Russia. It is a vertically integrated oil and gas company operating a diversified upstream and downstream portfolio across Russia and Ukraine. TNK-BP was established in 2003 as a result of the merger of Russian companies TNK (Tyumen Oil Co.), SIDANCO and Onako with the majority of BP’s Russian oil assets. The company is 50% owned by BP and 50% owned by a group of prominent Russian investors: Alfa Group, Access Industries and Renova (AAR). TNK-BP also owns a 50% interest in Slavneft, another large Russian oil company.
BP also has a 49% holding with Rosneft, encompassing acreage in offshore Sakhalin in the far east of Russia. BP also owns equity in Rosneft, having participated in Rosneft’s IPO with a $1bn investment in 2006.
BP's other businesses in Russia include:
- BP Marine which has an 81% stake in Baltic Petroleum (Lukoil, 19%) which markets marine fuels, lubricants and technical services to the shipping industry
- Air BP which has a small representative office in Moscow whose main role is to approve and promote Air BP and Castrol aviation lubricants for Russian aircraft
- Marketing of BP lubricants under the Castrol and BP brands in Russia and Ukraine
BP Exploration and Production in Russia
Find out more about our projects in Russia at the TNK-BP website: