 | |
| Company type | Public (OAO) |
|---|---|
| MCX: BANE | |
| Industry | Oil and gas industry |
| Founded | 1946; 79 years ago (1946) |
| Headquarters | Ufa,Bashkortostan,Russia |
Key people | Nikolay Grakhantsev,(CEO) |
| Revenue | $11.6 billion[1] (2021) |
| $1.55 billion[1] (2021) | |
| $1.15 billion[1] (2021) | |
| Total assets | $12.4 billion[1] (2021) |
| Total equity | $7.53 billion[1] (2021) |
| Owner | Rosneft (57.7%)[2] |
Number of employees | 8,150 |
| Parent | Government of Russia |
| Website | www |
Bashneft is a Russianoil company formed by the transfer of the oil related assets of theSoviet oil ministry in Bashkortostan to the regional government of theRepublic of Bashkortostan byBoris Yeltsin. It was then privatized during 2002-3 byMurtaza 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 byVladimir Yevtushenkov[3] 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.[4][5] 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.[6] It is one of the larger producers of oil products in the country.[7] 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 inUfa with a combined capacity of 820,000 bbl/d (130,000 m3/d) and 100 petrol stations.
The Russian holdingSistema bought a controlling stake in Bashneft in March 2009 for US$2 billion.[8]In March 2014, Bashneft acquired a 100% stake in Russian oil firm Burneftegaz in a deal totalling more than $1 billion.[9]
Murtaza Rakhimov,Kadir Timergazin have worked in Bashneft.
In 2016, Bashneft was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.[10]
Bashneft has been ranked no. 48 in theArctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle.[11]
On the website of PJSC Bashneft, after the introduction ofInternational sanctions during the 2022 Russian invasion of Ukraine, information about members of the board of directors and the board of the company was deleted.[12]
Russia has seized 71.6 percent of OAO Bashneft from Sistema since ordering Evtushenkov's arrest on Sept. 16 in a money-laundering investigation linked to the state's sale of the oil company in the previous decade.
According to the notification, 122,971,934 ordinary shares and 6,192,245 preferred shares of JSOC Bashneft (71.62% of its authorized share capital) have been transferred from the accounts of OJSC JSFC Sistema and CJSC Sistema-Invest to the account of the Federal Agency for State Property Management.
Mr. Rakhimov's government privatized Bashneft, with most of its shares ending up in the hands of a company called Bashkir Capital
In 2009, Sistema increased its stake in the BashTEK companies to more than 75% by entering into agreements for the purchase of controlling stakes in the BashTEK companies (the "BashTEK Shares") from third party private Russian companies (the "SPAs" and the "Second Acquisition"). Under the terms of SPAs, the price to be paid for the BashTEK Shares was US$ 2 billion plus an additional payment of US$ 0.5 billion which, under the terms of the SPAs, was conditional on the fulfilment of a number of conditions. These conditions were not met and, as a result and in accordance with the terms of the SPAs, the additional payment of US$ 0.5 billion was not payable.
