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.
AFK Sistema must pay Rosneft 136 billion rubles. The court's decision has a fateful negative impact on the Russian economy, Sistema believes.
The company considers the current composition of the Bashkir Arbitration Court illegal.
The company considers illegal the decision to arrest its property at a claim of 170 billion rubles.
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.
"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.
Could the Russian oligarch Vladimir Petrovich Yevtushenkov be behind the attack of the Petya virus?
To please Rosneft, the court is ready for atypical decisions on MTS.
Shares of the operator become cheaper during the trials of AFK and Rosneft.
Vladimir Yevtushenkov vainly believes that in a dispute with the oil company, "the reason will triumph."
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.
The prosecutor's office left Bashneft managers without stock options and bonuses: probably, the received shares and money will have to be returned.
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.
Now the company of Igor Sechin demands not 106.6, but 170.6 billion rubles from Vladimir Yevtushenkov's entity.
The businessman named his yacht after the ship from the famous film "Pirates of the Caribbean" - "Black Pearl".
The multi-billion government contracts are obtained by mysterious contractors without tenders.
Operational managers replaced anti-crisis ones.
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.
Rosneft paid 300 billion rubles for Bashneft . What did it get for that money?
The property of the former Minister of Economic Development, Alexey Ulyukayev, has been arrested, RBC was told in the Basmanny Court.
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.
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.
Belarusian dictator wanted to improve the energy balance.
Belarus offers Russia to exchange shares Bashneft for a stake in Belarusian companies, said President Alexander Lukashenko. No answer until now, he complained.
The arrest of Alexey Ulyukayev is the first step towards the arrest of the famous dog lover.
The Investigative Committee said that the Minister of Economic Development extorted $2 million for the purchase of Bashneft shares by Rosneft.
The people and government of Russia cannot do anything with Rosneftegaz.
Rosneft will buy Bashneft using a sly scheme.
Why commodity companies are not afraid of accidents.