OAO ANK BASHNEFT

Bashneft Company was established on the basis the Bashkir Petrochemical Integrated Enterprise (Bashneftekhimkombinat) in 1946. In 1975 it was renamed Bashneft Production Association and in 1995 it was called Bashneft Joint-Stock Company. Bashneft is the oldest oil producing facility in Russia; it makes up the basis of the industry in the Republic of Bashkortostan (Bashkiria), and provides one-fifth of the republican budget. Bashneft performs a complete cycle of prospecting for and production of oil and gas and marketing the products of their refining. It is among the top ten oil producing companies in Russia and develops 140 oil and gas fields in 27 regions of Bashkortostan and also in Tatarstan and Udmurtia. Its annual oil output exceeds 16 million tons. Its offices, branches and subsidiary enterprises function in big industrial centers of Russia and in the CIS countries. It also cooperates on a long-term basis with major companies of France, Britain, the U.S., Italy, Finland, Canada, Belgium and other countries. The main stockholder and owner is the Bashkir Open Joint Stock Fuel Company (63.72%) The authorized capital is 204, 800 rubles. Organizationally, the Bashneft oil company is part of the Bashkir Fuel Company together with other oil refining, petrochemical and power-engineering facilities in the republic. The company has 46 departments, including the Ufaneftekhim, Novoil (Novo-Ufimsky) and Ufimsky oil refineries and also the Ufaorgsintex petrochemical facility. The total output of its refineries reaches 40 million tons of oil annually. The company&＃039;s structural elements also are the Tuimazinsky GPZ enterprise, two research and design institutes (Bashnipineft and Bashnefteproekt), a number transport and communication enterprises, two plants manufacturing oil equipment, three departments for oil-well drilling, one geological prospecting office, and about 100 filling stations. The Bashneft employs personnel of about 50, 000 people.