TNK-BP will begin trading oil products on the St. Petersburg International Raw Material and Commodity Exchange in March
The Exchange Management and TNK-BP representatives had a meeting on Thursday last week.
“During the meeting there was a discussion of the development of exchange trading in Russia. Following the meeting TNK-BP management confirmed its intention to carry out trading operations via the St.Petersburg International Raw Material and Commodity Exchange, starting in March 2009. The company is currently agreeing the technical details of such participation”, it was said in the official announcement.
The St.Petersburg International Raw Material and Commodity Exchange received a licence from the Federal Financial Markets Service on 28 May 2008.
Its founders include the major Russian companies Transneft, Transnefteprodukt, Rosneft, Gazpromneft, Zarubezhneft, Surgutneftegaz, leading traders and transport companies, Sovcomflot, Russian Railways, VTB, Sberbank and Gazprombank.