Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

TNK-BP Holding Says 2011 Profit Advanced 41% on Rising Oil Price

April 4 (Bloomberg) -- OAO TNK-BP Holding, the traded unit of TNK-BP International Ltd., reported a 41 percent jump in full-year profit after oil prices increased.

Net income rose to $9.21 billion in 2011 from $6.54 billion a year earlier, the Moscow-based company said today in a statement on its website. Sales climbed 34 percent to $54.9 billion.

TNK-BP International, the Russian oil venture between BP Plc and a group of billionaires, posted record annual profit of $9 billion for last year on Feb. 29 after the average annual price of Urals crude blend exceeded $100 a barrel for the first time.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.