Bashneft

Last updated
Bashneft OAO
Company type Public (OAO)
MCX:  BANE
Industry Oil and gas industry
Founded1946;78 years ago (1946)
Headquarters Ufa, Bashkortostan, Russia
Key people
Nikolay Grakhantsev, (CEO)
Revenue$11.6 billion [1]  (2021)
$1.55 billion [1]  (2021)
$1.15 billion [1]  (2021)
Total assets $12.4 billion [1]  (2021)
Total equity $7.53 billion [1]  (2021)
Owner Rosneft (57.7%) [2]
Number of employees
8,150
Parent Government of Russia
Website www.bashneft.com

Bashneft is a Russian oil company formed by the transfer of the oil related assets of the Soviet oil ministry in Bashkortostan to the regional government of the Republic of Bashkortostan by Boris Yeltsin. It was then privatized during 2002-3 by Murtaza Rakhimov, the president of Bashkortostan, an ally of Yeltsin's, with a controlling interest in Bashkir Capital, a holding company controlled by Rakhimov's son, Ural Rakhimov. In 2009 a controlling interest in Bashneft was acquired for $2 billion by Vladimir Yevtushenkov [3] and placed in his holding company, Sistema, but in July 2014 he was jailed and 72% of Sistema's interest in Bashneft seized by the Russian government. [4] [5] Following seizure of the company in December 2014 Yevtushenkov was released from jail, "charges not proven," but Ural Rakhimov was reported to have fled the country. [6] It is one of the larger producers of oil products in the country. [7] The company operates 140 oil and natural gas fields in Russia and has an annual oil production of 16 million tonnes. Bashneft owns three oil refineries located in Ufa with a combined capacity of 820,000 bbl/d (130,000 m3/d) and 100 petrol stations.

Contents

History

Bashneft oil pump in Bashkortostan Oil pump Bashneft.jpg
Bashneft oil pump in Bashkortostan

The Russian holding Sistema bought a controlling stake in Bashneft in March 2009 for US$2 billion. [8] In March 2014, Bashneft acquired a 100% stake in Russian oil firm Burneftegaz in a deal totalling more than $1 billion. [9]

Murtaza Rakhimov, Kadir Timergazin have worked in Bashneft.

In 2016, Bashneft was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. [10]

Bashneft has been ranked no. 48 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle. [11]

On the website of PJSC Bashneft, after the introduction of International sanctions during the 2022 Russian invasion of Ukraine, information about members of the board of directors and the board of the company was deleted. [12]

See also

Related Research Articles

<span class="mw-page-title-main">Gazprom</span> Russian oil and gas company

PJSC Gazprom is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. The Gazprom name is a contraction of the Russian words gazovaya promyshlennost. In January 2022, Gazprom displaced Sberbank from the first place in the list of the largest company in Russia by market capitalization. In 2022, the company's revenue amounted to 8 trillion rubles.

<span class="mw-page-title-main">Ufa</span> Capital of Bashkortostan, Russia

Ufa is the largest city in and the capital of Bashkortostan, Russia. The city lies at the confluence of the Belaya and Ufa rivers, in the centre-north of Bashkortostan, on hills forming the Ufa Plateau to the west of the southern Ural Mountains, with a population of over 1.1 million residents, up to 1.4 million residents in the urban agglomeration. Ufa is the tenth-most populous city in Russia, and the fourth-most populous city in the Volga Federal District.

<span class="mw-page-title-main">Bashkortostan</span> First-level administrative division of Russia

Bashkortostan or Bashkiria, officially the Republic of Bashkortostan, is a republic of Russia between the Volga river and the Ural Mountains in Eastern Europe. The republic borders Perm Krai to the north, Sverdlovsk Oblast to the northeast, Chelyabinsk Oblast to the east, Orenburg Oblast to the south, Tatarstan to the west and Udmurtia to the northwest. It covers 143,600 square kilometres and has a population of 4 million. It is the seventh-most populous federal subject in Russia and the most populous republic. Its capital and largest city is Ufa.

<span class="mw-page-title-main">Lukoil</span> Russian oil company

The PJSC LukoilOil Company is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, petroleum products, and electricity. It was formed in 1991 when three state-run, western Siberian companies merged. The original companies were named after their respective towns in Khanty–Mansi Autonomous Okrug that each was based in; Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz. Its new name is the combination of the acronym LUK and the English word "oil".

<span class="mw-page-title-main">Rosneft</span> Russian energy company headquartered in Moscow

PJSC Rosneft Oil Company is a Russian integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products. The company is controlled by the Russian government through the Rosneftegaz holding company. Its name is a portmanteau of the Russian words Rossiyskaya neft.

<span class="mw-page-title-main">Murtaza Rakhimov</span> Russian politician (1934–2023)

Murtaza Gubaydullovich Rakhimov was a Russian politician of Bashkir ethnicity who served as the first President of Bashkortostan, a republic within Russia, from 1993 to 2010.

<span class="mw-page-title-main">Vladimir Yevtushenkov</span> Russian billionaire business oligarch (born 1948)

Vladimir Petrovich Yevtushenkov is a Russian billionaire business oligarch. He is the majority owner (49.2%) and former сhairman of Sistema. As a member of the Russian-Saudi Economic Council and as chairman since 2002 of both the Russian side of the Russian-Saudi and Russian-Arab Business Councils which are part of the Chamber of Commerce and Industry (CCI), he maintains very close ties to both Saudi Arabia and the Arab world.

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 it was acquired by Russian oil company Rosneft.

<span class="mw-page-title-main">Alrosa</span> Russian diamond mining company

Alrosa is a Russian group of diamond mining companies that specialize in exploration, mining, manufacture, and sale of diamonds. The company leads the world in diamond mining by volume. Mining takes place in Western Yakutia, the Arkhangelsk region, and Africa. Alrosa is Russia's leading diamond mining and distribution company, accounting for 95% of Russian diamond production and 27% of global diamond extraction.

<span class="mw-page-title-main">Severstal</span> Russian steel and mining company

Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company in Russia. The company is majority-owned and controlled by billionaire Alexey Mordashov.

Novatek is Russia's second-largest natural gas producer, and the seventh-largest publicly traded company globally by natural gas production volume. The company was originally known as OAO FIK Novafininvest. Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains a head office in Moscow. In the 2020 Forbes Global 2000, Novatek was ranked as the 316th-largest public company in the world.

<span class="mw-page-title-main">Sistema</span> Russian conglomerate company

AFK Sistema PAO is a large Russian conglomerate company, founded by Vladimir Yevtushenkov, who was chairman of the corporation's board of directors until 2022. In April, Yevtushenkov's shareholding in Sistema has decreased to 49.2%, and he also stepped down from Sistema's board.

The mineral industry of Russia is one of the world's leading mineral industries and accounts for a large percentage of the Commonwealth of Independent States' production of a range of mineral products, including metals, industrial minerals, and mineral fuels. In 2005, Russia ranked among the leading world producers or was a significant producer of a vast range of mineral commodities, including aluminum, arsenic, cement, copper, magnesium compounds and metals, nitrogen, palladium, silicon, nickel and vanadium.

<span class="mw-page-title-main">Ufa State Petroleum Technological University</span> Technical university in Ufa, Russia

Ufa State Petroleum Technological University is a technical university in the city of Ufa.

<span class="mw-page-title-main">Ural Rakhimov</span> Russian businessman (born 1961)

Ural Murtazovich Rakhimov is a Russian businessman of Bashkir ethnicity. Rakhimov is the 191st richest man in Russia with a net worth of US$500 million as of 2011.

Trebs and Titov oil fields is a complex of Arctic oil fields in the Timan-Pechora Basin in Nenets Autonomous Okrug, Russia.

Sergey Alekseyevich Veremeenko is a Russian businessman and politician who, according to Forbes magazine, has a net worth of 1.4 billion US dollars. He has investments in steel, mining, banking and microchips. He has 25% of shares in Estar, a steel and metals group, and also owns luxury housing developments in Moscow’s suburbs and vast agricultural land in Tver, Kaluga and Penza. He also holds publishing interests in the newspapers Pravda.ru and Pravda International.

<span class="mw-page-title-main">David Yakobashvili</span> Russian businessman

David Mikhaylovich Yakobashvili is one of the founders of the largest Russian companies – JSC Wimm-Bill-Dann – the manufacturer of dairy products, juices and beverages. In 2001 - 2010 he held the position of the Chairman of the Board of Directors of this company. In 2010 David Yakobashvili together with shareholders sold the biggest Russian food producer Wimm-Bill-Dann (WBD) to US PepsiCo. For his 10.5% stake in the company, Yakobashvili received more than US$600m.

<span class="mw-page-title-main">Bashneft – Novoil</span> Russian oil company

Bashneft – Novoil is one of the biggest producers of high-quality petroleum products in Russia.

<span class="mw-page-title-main">Radiy Khabirov</span> Bashkir politician (born 1964)

Radiy Faritovich Khabirov is a Russian politician and statesman. He is the current Head of the Republic of Bashkortostan since 11 October 2018; he is also the Candidate of Law, Honored Lawyer of the Republic of Bashkortostan. He is a member of United Russia.

References

  1. 1 2 3 4 5 "Финансовые результаты 12 мес. и IV кв. 2021 г." (PDF) (in Russian). Bashneft. 11 February 2022. p. 54. Retrieved 11 February 2022.
  2. ↑ "Список аффилированных лиц". e-disclosure.ru. Retrieved 26 August 2017.
  3. ↑ "Владимир Евтушенков". 24SMI (in Russian). Retrieved 2023-03-20.
  4. ↑ Natasha Doff and Ksenia Galouchko (December 18, 2014). "Sistema Shares Soar as Putin Says Evtushenkov Charges Not Proven". No. Bloomberg Business News. Bloomberg News. Archived from the original on December 27, 2014. Retrieved December 27, 2014. Russia has seized 71.6 percent of OAO Bashneft from Sistema since ordering Evtushenkov's arrest on Sept. 16 in a money-laundering investigation linked to the state's sale of the oil company in the previous decade.
  5. ↑ "Bashneft is notified of a change of a majority shareholder". bashneft.com. Bashneft. December 10, 2014. Archived from the original (Press release) on March 4, 2016. Retrieved December 27, 2014. According to the notification, 122,971,934 ordinary shares and 6,192,245 preferred shares of JSOC Bashneft (71.62% of its authorized share capital) have been transferred from the accounts of OJSC JSFC Sistema and CJSC Sistema-Invest to the account of the Federal Agency for State Property Management.
  6. ↑ Steven Lee Myersand Jo Becker (December 26, 2014). "Even Loyalty No Guarantee Against Putin". The New York Times. Retrieved December 27, 2014. Mr. Rakhimov's government privatized Bashneft, with most of its shares ending up in the hands of a company called Bashkir Capital
  7. ↑ "Products". bashedu.ru. Archived from the original on 26 September 2009. Retrieved 2009-09-08.
  8. ↑ "Statement Regarding JSOC Bashneft and Related Proceedings" (Press release). International: BusinessWire.com. October 23, 2014. Archived from the original on 26 October 2023. Retrieved 2023-10-26. In 2009, Sistema increased its stake in the BashTEK companies to more than 75% by entering into agreements for the purchase of controlling stakes in the BashTEK companies (the "BashTEK Shares") from third party private Russian companies (the "SPAs" and the "Second Acquisition"). Under the terms of SPAs, the price to be paid for the BashTEK Shares was US$ 2 billion plus an additional payment of US$ 0.5 billion which, under the terms of the SPAs, was conditional on the fulfilment of a number of conditions. These conditions were not met and, as a result and in accordance with the terms of the SPAs, the additional payment of US$ 0.5 billion was not payable.
  9. ↑ Bashneft acquires oil producer Burneftegaz, International: Hydrocarbons-Technology.com, 2014
  10. ↑ Overland, Indra (2016). "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic". ResearchGate. Arran. Retrieved 2 August 2018.
  11. ↑ Overland, I., Bourmistrov, A., Dale, B., Irlbacher-Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/epdf/10.1002/bse.2698
  12. ↑ the board of directors
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.