TNK-BP May Enter Kazakh and Turkmen Markets

Russian-British oil joint venture TNK-BP's new strategy is part of the company's five-year development plan which has been kept secret so far, RBC Daily wrote today.

Analysts believe that the company may be planning to join the markets of Kazakhstan and Turkmenistan, yet they do not rule out that it may enter projects of supplying oil to China. Sources in the company say it may either obtain new licenses or acquire assets abroad.

TNK-BP's major shareholder Viktor Vekselberg is positive that this year the company will not only streamline its oil production activities, but also boost its share in oil refining. The company has hiked its investment program for the year by $600m to $4bn taking into account the acquisition of Vanyeganneft from Occidental Petroleum and Severneftegaz from RussNeft.