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To capitalize on rising natural gas prices in Russia, TNK-BP Ltd. will invest $3.8 billion until 2013 to increase production 30 billion cubic meters a year by 2020. TNK-BP expects revenue from natural gas to account for 20% of the company's earnings.

After years of pressure from the Russian government, BP PLC's joint venture in Russia - TNK-BP - agreed to sell its share in the Kovykta oil field in Siberia to government-owned Rosneftegaz. The stake has a value of up to $900 million.

Topping TNK-BP's offer of 430 pence a share, OAO Gazprom Neft is offering 500 pence a share to acquire a stake in Russian oil firm Sibir Energy PLC. Gazprom's offer values Sibir at about $2.8 billion. It is speculated that Gazprom's aim is to acquire enough stock to block other investors from buying substantial shares in Sibir.

BP PLC's Russian joint venture, TNK-BP, launched a bid to acquire a stake in Russian oil company Sibir Energy PLC. The offer, which is supported by Sibir's minority shareholders, values the company at $2.3 billion.

TNK-BP Ltd., BP PLC's Russian joint venture, may sell to OAO Gazprom its 62.7% stake in Russia's Kovykta field for nearly $1 bil in a deal still under negotiation. Gazprom and BP would then dedicate $1.5 bil each to begin forming a global joint venture for other projects.

TNK-BP has outlined its overseas expansion strategy, although it says it has not yet discussed those plans with its soon-to-be new owner, Russian state-controlled Rosneft. The share of foreign projects [...]

Far from cashing out of its Russian oil-field services business, Oil Daily understands that TNK-BP has launched plans to expand its drilling unit, which it runs as a separate business. [...]

Russian UK joint venture TNK-BP is looking to expand, moving outside Russia and using the experience gained from rehabilitating mature Russian fields to win similar business in other former Soviet [...]

Russian-UK joint venture TNK-BP plans to ramp up investment in upstream activities to around $3 billion this year, including $1.1 billion for drilling, as the company attempts to bolster its [...]

Russian-UK joint venture TNK-BP is trying again to strike an agreement with gas monopoly Gazprom over development of the huge Kovykta gas and condensate field in East Siberia, according to [...]

Russia's oil companies are starting to work out plans to build pipelines from their fields in remote East Siberia, where transport infrastructure is sorely lacking. Surgutneftegas last week presented a [...]

TNK-BP's restructuring plans are moving ahead on course. The boards of the joint venture's three main subsidiaries -- Tyumen Oil Co. (TNK), Sidanco and Onaco -- held shareholder meetings this [...]

While TNK-BP has been subjected to a new wave of criticism for its failure to develop the huge Kovykta gas field, Gazprom says it will refocus its interest on Sakhalin [...]

TNK-BP has announced that it is on track to grow production in Russia by more than its planned 12% in 2004, and by around 7% per year through 2007. TNK-BP [...]

TNK-BP is working to raise the health, safety and environmental standards in its river navigation operations to international standards. TNK-BP celebrated its one-year anniversary on Sep. 1. A year ago, [...]

TNK-BP's plan to export its growing oil output via the reversed Odessa-Brody pipeline got a big boost last week when Russia and Ukraine signed a 15-year oil transit protocol. The [...]

Through two recent moves, the Russian government looks to be nudging TNK-BP to come to some accommodation with state Gazprom that will advance the long nascent East Siberian Kovykta gas [...]

In a boost for Russian oil exports, TNK-BP will start filling crude into the Odessa-Brody pipeline in September, with the line to start operations in early October. Following Ukraine's recent [...]

TNK-BP looks to be moving forward with plans to build a crude and oil products terminal on the Baltic Sea. The Russian-UK company's board of directors has approved allocating budget [...]

TNK-BP has won a stay of execution from Russia's Natural Resources Ministry, which decided to keep its hands off the venture's licenses to the Kovykta gas field and Verkhnechonskoye oil [...]

TNK-BP has created a preliminary plan to form a Russian holding company that will streamline the operations of the Russian-UK joint venture. In the wake of the Yukos affair, the [...]

* BP's Russian joint venture TNK-BP is looking at changes to its current investment plan with a view to maximising profits from high crude prices. The company will consider developing [...]

Russian-UK joint venture TNK-BP is drafting five-year and 20-year business plans, which represent the first example of long-term planning by private investors in Russia's oil industry since the collapse of [...]

New technology is sparking a revolution in the Russian oil industry. TNK-BP has set itself a goal for 2004 of replacing from added reserves 75% of what it produces. 'Our [...]

Russian-UK joint venture TNK-BP has revealed ambitious plans to beef up its downstream presence in Ukraine. The company plans to increase its investment into the 320,000 b/d Lisichansk refinery to [...]

The Leningrad regional government has approved a request from TNK-BP for permission to build a 12mn t/yr oil terminal at Luga bay, around 120km west of St Petersburg. The local [...]

TNK-BP's board of directors has set out over $1 billion per year in capital expenditure until 2005, in a strategic development plan approved last month. Capital spending will then start [...]

TNK-BP is to decide soon whether to go ahead with plans to build a 360,000 b/d export terminal on the Baltic Sea, not far from Primorsk. The company submitted a [...]

TNK-BP is set this week to approve a five-year strategic plan of growth in Russia, as well as a 2004 business program. According to the company, its board of directors [...]

LONDON -- BP on Thursday offered a tantalizing glimpse of what the future could hold for Exxon Mobil and other potential Western investors in Russia, as it outlined plans and [...]

TNK-BP, the Anglo-Russian large oil company is continuing with its international expansion plans and is busy acquiring assets from BP in Vietnam and Venezuela. The deals were finalized with the governments of Vietnam and Venezuela giving their backing to the sale.

TNK-BP on December 17, 2009 announced a 2.9% increase in expected crude production in 2010, to about 72 million metric tons. The Anglo-Russian oil company also plans to boost its 2010 capital expenditure to about US$3-US$3.5 billion to develop new fields in the remote Yamal Peninsula.

The Anglo-Russian oil company TNK-BP announced on October 8, 2009, its board's approval of several major long-term investment projects, based on its current performance in 2009 which is exceeding expectations. The company plans to invest in the early development of oil fields in the northern Yamal region in Russia and also in several refinery modernization projects in Russia and Ukraine.

Anglo-Russian oil company TNK-BP is planning to reduce capital expenditures following the global financial crisis. Suspension of projects is not ruled out and a final decision will be taken at the company board meeting scheduled for December 11, 2008.

TNK-BP are planning to continue with their international expansion plans despite BP receiving a financial hit due to the oil spill from its Macondo well in the Gulf of Mexico. Analysts also claim that the chances of BP selling off its stake in TNK-BP also appears quite unlikely.

TNK-BP is mulling the possibility of increasing its US$4.4 billion capital expenditure (capex) for 2010 after promising operational and financial results in the year's first quarter. COO Bill Schrader stated April 6, 2010 stated the company had identified several projects for additional investment in Russia and overseas.

TNK-BP an Anglo-Russian oil venture is planning to increase its output by 2% in 2009 as per information by its operating office Tim Summers on 20 August 2009. The production at its Uvat fields in the Tyumen region has been increased to 6,200 mt/d (45,000 b/d) and is expected to touch 8,000 mt/d (58,000 b/d) by the fourth quarter of 2009.

The Vice-President of Exploration for TNK-BP, Sergei Ostapenko revealed on 24 June 2009 that the company has no plans to reduce its investment in exploration despite the economic recession. The company plans to make its East Siberian region of Krasnoyarsk a priority for development from 2010.

The board of the Anglo-Russian company, TNK-BP is planning to raise its investment program for 2009 to $377 million to $3.38 billion as per reports released by the company on 15 June 2009. The follows a good overall performance and the board is also examining other opportunities for value-adding assets that could help increase business.