BVI company structure involved in global petroleum industry operations
TNK BP Group, one of the largest companies involved in global oil and gas industry and initially registered on the British Virgin Islands, has just signed an agreement of co-operation for further development of oil-and-gas production, refining and petrochemical enterprises with Russian federal agency. Information about it can be found in the article TNK-BP Signed an Agreement of Cooperation with Rostekhnadzor.
These new development incentives were anticipated by several stages of company restructuring, which took place during the last year and finished by forming a TNK-BP Holding and liquidation of minor holdings Tyumen Oil Co., SIDANKO and ONAKO. As a result, the capitalization of TNK-BP Holding made $41.5 billion. By some estimations of analysts, the company’s liquidity is comparable to that of LUKOIL.
TNK-BP Ltd. was incorporated in the BVI tax haven in 2003, as a result of a merger of Access/Renova consortium and Alfa Group with the British BP. The British Petroleum (BP) is one of the four largest energy companies in the world, vertically integrated in the industry of oil, natural gas and gasoline.
Before final restructuring, TNK-BP held the control stock of the minor holdings, through several companies registered in the BVI and Cyprus offshore jurisdictions. In December 2005 all the assets of the company were consolidated in TNK-BP Holding.