Bashneft

Bashneft OAO
Company typePublic (OAO)
MCXBANE
IndustryOil and gas industry
Founded1946 (1946)
HeadquartersUfa, 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)
OwnerRosneft (57.7%)[2]
Number of employees
8,150
ParentGovernment of Russia
Websitewww.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.

  1. ^ a b c d e "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.

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