Bashneft


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 P. Yevtushenkov 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. 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. It is one of the larger producers of oil products in the country. 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.

Official site.


Igor Vladimirovich Zyuzin (born May 29, 1960) is a Russian businessman, Chairman of the Board of Directors and a major shareholder of the mining and steel group "Mechel". With a personal fortune of US$ 8.9 billion, he was at number 16 on the Forbes list of 200 richest Russian business people. He lost most of his net worth to a record drop in the Mechel stock price by late 2013.

In 1995 Igor Zyuzin and partner Vladimir Iorich formed Uglemetkooperatsiya, a coal-trading company, which was among the first to buy up shares in coal mines and pits in Russia's Kuzbass region. In 2001 the partners bought a controlling stake in Chelyabinsk Metals Factory, which formed the basis of the Mechel Group, which now has more than 20 plants and coals mines around the world. Three years later its shares began trading on the New York Stock Exchange. Now Mechel is in the doldrums. In the first nine months of 2012 the company lost $550 million and racked up $9.1 billion in debt. In September 2012 Mechel announced it was selling assets including factories in Romania, a Lithuanian wire, nails and wire mesh maker called Mechel Namunas, and nicked producer Yuzhuralnickel.
 

AFK Sistema demanded to replace the court

Business09.08.2017

The company considers the current composition of the Bashkir Arbitration Court illegal.

AFK Sistema complained about the judge and Igor Sechin to President Vladimir Putin

Governance19.07.2017

The company considers illegal the decision to arrest its property at a claim of 170 billion rubles.

AFK Sistema announced a technical default

Business17.07.2017

The company explained the impossibility of fulfilling credit obligations worth 3.9 billion rubles by seizure of assets by decision of the Arbitration Court of Bashkortostan.

Why Rosneft and Sistema can't reconcile

Business05.07.2017

"Sistema" asks the Prosecutor General to verify the legality of the actions of the bailiff, who has forbidden the company to receive income on the arrested shares, and Igor Sechin expects from Sistema specific proposals on the settlement agreement.

Petya's rage

Society30.06.2017

Could the Russian oligarch Vladimir Petrovich Yevtushenkov be behind the attack of the Petya virus?

Sechin's appetite comes with Yevtushenkov

Business27.06.2017

To please Rosneft, the court is ready for atypical decisions on MTS.

MTS under arrest

Business27.06.2017

Shares of the operator become cheaper during the trials of AFK and Rosneft.

The owner of AFK Sistema responded to the claims of Rosneft

Business25.06.2017

Vladimir Yevtushenkov vainly believes that in a dispute with the oil company, "the reason will triumph."

Yevtushenkov wants peace: Sistema offered Rosneft a mechanism for settling the dispute

Business23.06.2017

The representatives of Sistema have not yet disclosed the details of the proposal. Following the news about a possible settlement of the dispute, the company's shares finished trading by almost 8% up.

Prosecutor's Office and Igor Sechin depreciated Bashneft

Business15.06.2017

The prosecutor's office left Bashneft managers without stock options and bonuses: probably, the received shares and money will have to be returned.

Time to gut Yevtushenkov

Business27.05.2017

The amount of claims of Igor Sechin to Vladimir Yevtushenkov reached almost $3 billion. Apparently, this is the beginning of the end of business of the "Luzhkov's oligarch" in Russia.

Rosneft increased the amount of the claim to Sistema due to the weakening of the ruble

Business26.05.2017

Now the company of Igor Sechin demands not 106.6, but 170.6 billion rubles from Vladimir Yevtushenkov's entity. 

Oleg Burlakov bought the largest sailing yacht in the world

Society04.04.2017

The businessman named his yacht after the ship from the famous film "Pirates of the Caribbean" - "Black Pearl".

Kings of the state order - 2017: Forbes rating

Business02.03.2017

The multi-billion government contracts are obtained by mysterious contractors without tenders. 

The brightest resignations and appointments in 2016

Business05.01.2017

Operational managers replaced anti-crisis ones. 

Ulyukayev braces up for court in camera

Officials03.01.2017

The investigation is sure to proof the guilt of ex-Minister of Economic Development, in particular with the help of records of negotiations. The names of most of his interlocutors are classified.

Sechin's affairs: history of the privatization of the year

Business29.12.2016

Rosneft paid 300 billion rubles for Bashneft . What did it get for that money?

The court arrested the property of Alexey Ulyukayev

Crime16.12.2016

The property of the former Minister of Economic Development, Alexey Ulyukayev, has been arrested, RBC was told in the Basmanny Court.

Igor Sechin gave Rosneft away to his friends and enemies of Russia

Business08.12.2016

The head of Rosneft sold nearly 20% of the state company to Glencore, which is closely associated with the Kremlin-connected billionaire Gennady Timchenko, and to the Qatar Investment Authority, which collaborates with Igor Sechin's advisor, Roman Trotsenko.

We lost, went away and forgot about Bashneft

Business05.12.2016

Vice-President and co-owner of Lukoil Leonid Fedun, in an interview with RBC told about his first scientific paper on OPEC, commented on the decision of the cartel to reduce production, as well as informed why the company had not contested Rosneft for Bashneft, and how the money saved on that deal would be spent.   

Lukashenko wants Bashneft

Business23.11.2016

Belarusian dictator wanted to improve the energy balance.

Lukashenko told about trying to participate in the privatization of Bashneft

Governance18.11.2016

Belarus offers Russia to exchange shares Bashneft for a stake in Belarusian companies, said President Alexander Lukashenko. No answer until now, he complained.

Security forces picked up the trail of Igor Shuvalov

Governance16.11.2016

The arrest of Alexey Ulyukayev is the first step towards the arrest of the famous dog lover. 

Alexey Ulyukayev detained on suspicion of bribery

Officials15.11.2016

The Investigative Committee said that the Minister of Economic Development extorted $2 million for the purchase of Bashneft shares by Rosneft.

Sealed book of Igor Sechin

Business25.10.2016

The people and government of Russia cannot do anything with Rosneftegaz. 

Igor Sechin found a way to bypass the government ban

Business16.08.2016

Rosneft will buy Bashneft using a sly scheme.

Elbows-deep in oil

Business26.04.2016

Why commodity companies are not afraid of accidents.

Rotenberg is interested in shares of Aeroflot

Business11.03.2016

Arkady Rotenberg can buy a blocking stake in the largest Russian air carrier, Aeroflot.