Bashneft is a Russian

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...

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 Boris Nikolayevich Yeltsin ( rus, Борис Николаевич Ельцин, p=bɐˈrʲis nʲɪkɐˈla(j)ɪvʲɪtɕ ˈjelʲtsɨn, a=Ru-Boris Nikolayevich Yeltsin.ogg; 1 February 1931 – 23 April 2007) was a Soviet and Russian politician wh ...

. 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 Yevtushenkov Vladimir Petrovich Yevtushenkov (russian: Владимир Петрович Евтушенков; born 25 September 1948) is a Russian billionaire business oligarch. He is the majority owner (49.2%) and former сhairman of Sistema. As a member ...

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 Ufa ( ba, Өфө , Öfö; russian: Уфа́, r=Ufá, p=ʊˈfa) is the largest city and capital city, capital of Bashkortostan, Russia. The city lies at the confluence of the Belaya River (Kama), Belaya and Ufa River, Ufa rivers, in the centre-n ...

with a combined capacity of and 100 petrol stations.

History

The Russian holding Sistema bought a controlling stake in Bashneft in March 2009 for US$2.5 billion. In March 2014, Bashneft acquired a 100% stake in Russian oil firm Burneftegaz in a deal totalling more than $1 billion. Murtaza Rakhimov,

Kadir Timergazin Kadir Rakhimovich Timergazin (russian: Кадыр Рахимович Тимергазин; ba, Ҡадыр Рәхим улы Тимерғазин; 4 April 1963) was a Soviet petroleum geologist and a professor of geological-mineralogical science ...

have worked in Bashneft. In 2016, Bashneft was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. Bashneft has been ranked no. 48 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle. On the website of PJSC Bashneft, after the introduction of International sanctions during the 2022 Russian invasion of Ukraine, information about members of the board of directors and the board of the company was deleted.the board of directors
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References

External links

* {{authority control Oil companies of Russia Oil companies of the Soviet Union Non-renewable resource companies established in 1946 Companies listed on the Moscow Exchange Sistema Russian brands 1946 establishments in the Soviet Union Companies based in Ufa Government-owned companies of Russia

History

See also

References

External links