Doing Business In Russia

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Contact

Office
BP Representative Office

Address
Novinsky blvd.8
121099 Moscow
Russia

Phone: +7 495 363 62 62
Fax: +7 495 363 62 63

www.bp.com

BP is one of Russia's largest foreign investors.  With over 20 years of history in Russia, and with activities spanning across exploration, refining, trading, retail and the marketing of lubricants and marine products; throughout this period, BP can claim to have played a significant role in the development of the country's oil and gas sector.

Working closely with its various Russian partners, BP has brought significant investment, cutting edge technology and management expertise to help the country realise its enormous energy potential.

BP's joint venture, TNK-BP, which was formed with its partners AAR in 2003, has been hugely successful. The company has become Russia's second biggest oil producer and a major employer in the country, with over 50,000 local staff across all areas of operation. Additionally, BP has provided TNK-BP with world-class knowledge and expertise, supporting Russia's efforts to develop its extensive resource base.

TNK-BP has generated a net profit of over $49bn since its creation and has made significant, wider contributions to Russian society.  Corporate social responsibility and improving its best business practices have been a major focus of the firm since its creation. Moreover, in the last decade, the joint venture has paid the Russian government over $160bn in taxes and duties.

In addition to TNK-BP, BP's other areas of business in Russia can be grouped into four main categories: lubricants, BP Marine, Air BP and Integrated Supply and Trading (IST).

Setra Lubricants markets and distributes BP and Castrol branded lubricants in the Russia market and has an annual turnover of more than $200m. Baltic Petroleum, which is 100% owned by BP, supplies marine lubricants for international shipping vessels from its base in St Petersburg and to other parts of the premium domestic shipping market. BP Marine promotes two lubricants worldwide, BP and Castrol.

Air BP is one of the world's major suppliers of aviation fuels, lubricants and special fluids.  Air BP, in Moscow, provides its Russian customers with a personal relationship and service, as well as with access to all the benefits of its wider, global operation.

IST is BP's global trading arm for crude oil, petroleum products and gas.  IST sources more than 40 million tonnes of crude oil and petroleum products from Russia and the CIS.

Today, BP's involvement in Russia extends beyond business.  One example of this is a recent launch of a $50m CSR investment programme, which is being used to help support Russian initiatives and projects across technology, education and the arts, with the primary aim of bolstering research, technological innovation and management skills in the energy sector. BP's partners in these endeavours include universities and institutions of higher learning in Moscow, St. Petersburg, Kazan, Tomsk, Novosibirsk, Irkutsk and Vladivostok, SKOLKOVO School of Management and the Russian Geographic Society. BP also supports cultural institutions in Russia, such as the Mariinsky Theatre, The Tretyakov Gallery, the Moscow Conservatory and Polytechnical Museum.

Additionally, BP has recently signed a multi-million dollar agreement with the Skolkovo Foundation to co-fund a major research project with British and Russian higher education and scientific-research establishments.

BP remains committed to Russia and hopes to have a presence in the country for the long term future.