TNK-BP Ukraine is cutting half of its staff in the country and separating its Linik (TLNICRUD) refinery into a separate business after net losses in 2010 and 2011, Kommersant-Ukraine said, citing an unidentified press official.
TNK-BP may also sell the refinery, the Kiev-based newspaper reported, citing market participants. The Russian oil producer halted operations at the refinery in March for repairs.
Inna Troyan, a TNK-BP spokeswoman in Ukraine, didn’t immediately comment when called by Bloomberg news.
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