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
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Find out more about our projects in Russia at the TNK-BP website:
Related links
Find out more about our operations
Visit the TNK-BP website for further information about the joint venture
