Bloomberg News

TNK-BP Ukraine Cuts Half Staff on Refinery Loss, Kommersant Says

April 09, 2012

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.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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