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TNK-BP confirms that it is developing a corporate restructuring plan, based around the creation of a new Russian holding company.
The plan is meant to simplify TNK-BP's corporate structure, which includes 600 companies in Russia and abroad. The new firm will be registered in the west Siberian city of Tyumen.
At the moment, the TNK-BP holding Company is registered in the British Virgin Islands. Observers have suggested restructuring and moving the holding company onshore to ensure that the company avoids problems with the tax …