Sidanko

Sidanko was established through the Decree No. 452 of the Russian government, published on 5 May 1994. The company counted among its assets oil extraction and processing facilities in the Udmurt Republic and in the Khanty-Mansiysk, Yamalo-Nenets, Irkutsk and Sakhalin regions.{{cite news|title=Правительство создало новую нефтяную компанию|url=https://www.kommersant.ru/doc/78945|accessdate=3 September 2017|work=Kommersant|date=19 May 1994|url-status=live|archiveurl=https://web.archive.org/web/20170904011228/https://www.kommersant.ru/doc/78945|archivedate=4 September 2017}} It was privatized in December 1995, when the Russian government auctioned off a 51% share as part of the loans for shares scheme.{{cite news|title=Russia to Sell Majority of Sidanko|url=https://www.latimes.com/archives/la-xpm-1995-10-19-fi-58867-story.html|access-date=3 September 2017|work=Los Angeles Times|url-status=live|archive-url=https://web.archive.org/web/20170923081222/http://articles.latimes.com/1995-10-19/business/fi-58867_1_russian-government|archive-date=23 September 2017}}{{efn|Ziya 'Ziyaudi' Yusupovich Bazhaev ({{langx|ru|Зияуди Юсупович Бажаев}}) was president of Sidanko in the 1990s.{{cite web |url=http://www.ovg.ru/llinks/paxany.html |title=Справка. Влиятельные криминальные этнические авторитеты и лидеры диаспор Москвы |trans-title=Help. Influential criminal ethnic authorities and leaders of the Moscow diaspora |language=ru |work=ovg.ru |date=1999 |access-date=27 October 2023 |archive-date=4 March 2000 |archive-url=https://web.archive.org/web/20000304050233/http://www.ovg.ru/llinks/paxany.html}} [https://archive.today/20231027194409/https://rusns.forum24.ru/?1-4-0-00000017-000-0-1 Alternate archive] from [https://rusns.forum24.ru/?1-4-0-00000017-000-0-1 Русский форум] and [https://www.compromat.ru/page_24544.htm another archive] as Чеченская диаспора в Москве (Chechen diaspora in Moscow) author Ушкуйник.}} The 51% stake was awarded to the bank Mezhdunarodnaya Finansovaya Kompaniya in return for a $130 million loan, guaranteed by Vladimir Potanin's Uneximbank.{{cite news|title=Newsline|url=https://www.rferl.org/a/1141065.html|accessdate=3 September 2017|work=RadioFreeEurope/RadioLiberty|date=December 8, 1995|url-status=live|archiveurl=https://web.archive.org/web/20170904010829/https://www.rferl.org/a/1141065.html|archivedate=4 September 2017}} The company came under the ownership of Uneximbank, which exercised control over it through the Interros holding company.{{cite news|title=Too much trouble|url=http://www.economist.com/node/110545|accessdate=3 September 2017|work=The Economist|date=8 January 1998|url-status=live|archiveurl=https://web.archive.org/web/20170904010843/http://www.economist.com/node/110545|archivedate=4 September 2017}}

An additional 34% stake was sold by the government in September 1996,{{cite news|title=Incomplete Privatization Mixes Ownership Of Russia's Oil Industry|url=http://www.ogj.com/articles/print/volume-95/issue-33/in-this-issue/general-interest/incomplete-privatization-mixes-ownership-of-russia39s-oil-industry.html|accessdate=3 September 2017|work=www.ogj.com|url-status=live|archiveurl=https://web.archive.org/web/20170903214829/http://www.ogj.com/articles/print/volume-95/issue-33/in-this-issue/general-interest/incomplete-privatization-mixes-ownership-of-russia39s-oil-industry.html|archivedate=3 September 2017}} in an auction designed to have Uneximbank as the only admissible bidder.{{cite news|title=Entrepreneur In The Kremlin|url=https://www.bloomberg.com/amp/news/articles/1996-09-22/entrepreneur-in-the-kremlin-intl-edition|accessdate=3 September 2017|work=Bloomberg News|date=September 23, 1996}} As with the rest of the loan for shares scheme, the Sidanko auction was considered rigged by most analysts. In November 1997 BP bought a 10% share in the company for $484 million.

Sidanko entered bankruptcy proceedings in February 1999, after ZAO Beta Ekho filed to recover a $22,000 debt.{{cite news|title=Sidanko hit with suit|url=https://money.cnn.com/1999/02/01/europe/sidanko/|accessdate=3 September 2017|work=money.cnn.com|date=February 1, 1999|url-status=live|archiveurl=https://web.archive.org/web/20170903212238/http://money.cnn.com/1999/02/01/europe/sidanko/|archivedate=3 September 2017}} Beta Ekho was later revealed to be a vehicle of Mikhail Fridman's Alfa Group, which was using bankruptcy laws to avenge Fridman's exclusion by Potanin from the Svyazinvest privatization.{{cite news|title=Investors ask which Russian bank domino will be the next to topple|url=http://www.intellinews.com/investors-ask-which-russian-bank-domino-will-be-the-next-to-topple-129427/?source=russia|accessdate=25 September 2017|work=IntelliNews|url-status=live|archiveurl=https://web.archive.org/web/20170926041952/http://www.intellinews.com/investors-ask-which-russian-bank-domino-will-be-the-next-to-topple-129427/?source=russia|archivedate=26 September 2017}} In September 1999 western creditors agreed to cede their voting rights in the company to Russian government.{{cite news|title=Russia handed rights to Sidanko|url=http://www.fn.com/1999/09/08/worldbiz/sidanko/|accessdate=3 September 2017|work=www.fn.com|date=September 8, 1999|url-status=live|archiveurl=https://web.archive.org/web/20170903211257/http://www.fn.com/1999/09/08/worldbiz/sidanko/|archivedate=3 September 2017}}

Tyumen Oil Company bought Sidanko's Chernogorneft unit for $176 million at a bankruptcy auction in November 1999.{{cite news|title=Tyumen to transfer key subsidiary to Sidanko|url=http://www.ogj.com/articles/print/volume-98/issue-1/in-this-issue/general-interest/tyumen-to-transfer-key-subsidiary-to-sidanko.html|accessdate=3 September 2017|work=www.ogj.com|url-status=live|archiveurl=https://web.archive.org/web/20170903213129/http://www.ogj.com/articles/print/volume-98/issue-1/in-this-issue/general-interest/tyumen-to-transfer-key-subsidiary-to-sidanko.html|archivedate=3 September 2017}}{{cite news |last=КИТАЕВ |first=Игорь (Kitaev, Igor) |url=https://2001.novayagazeta.ru/nomer/2001/50n/n50n-s13.shtml |title=БАНКФОРМИРОВАНИЕ ПЕРЕХОДИТ В НАСТУПЛЕНИЕ: Взяв под контроль все ветви власти, ╚Альфа-групп╩ расширяет свой бизнес |trans-title=BANKFORMIROVANIE THE OFFENSIVE: Taking control of all branches of power, ╚Alfa-grupp╩ expanding its business |language=ru |work=Novaya Gazeta |date=19 July 2001 |access-date=20 July 2021 |archive-date=3 August 2001 |archive-url=https://web.archive.org/web/20010803223641/https://2001.novayagazeta.ru/nomer/2001/50n/n50n-s13.shtml}}{{cite news |url=https://graniru.org/Politics/Russia/m.88174.html |title=Справка по материалам в отношении руководства финансово-промышленной группы "Альфа" |trans-title=Help on materials regarding the management of the financial and industrial group "Alpha" |language=ru |work=graniru.org |date=21 April 2005 |access-date=20 July 2021 |archive-date=15 February 2021 |archive-url=https://web.archive.org/web/20210215025343/https://graniru.org/Politics/Russia/m.88174.html}}{{cite news |url=https://graniru.org/Politics/Russia/m.88176.html |title=Справка по материалам в отношении руководства финансово-промышленной группы "Альфа", часть 2 |trans-title=Help on materials regarding the management of the financial and industrial group "Alpha", part 2 |language=ru |work=graniru.org |date=21 April 2005 |access-date=20 July 2021 |archive-date=15 February 2021 |archive-url=https://web.archive.org/web/20210215093408/https://graniru.org/Politics/Russia/m.88176.html}} In 2001 Interros sold a 44% stake in the company for $650 million.{{cite news|last1=Whalen|first1=Jeanne|title=Potanin Reaps Big Gain on Sidanko Sale Despite Firm's Rickety Financial Health|url=https://www.wsj.com/articles/SB996783671932326431|accessdate=3 September 2017|work=Wall Street Journal|date=3 August 2001|url-status=live|archiveurl=https://web.archive.org/web/20170903211538/https://www.wsj.com/articles/SB996783671932326431|archivedate=3 September 2017}} BP raised its stake to 25% in 2002, paying $375 million for a 15% share.{{cite news|title=Gluttons for punishment?|url=http://www.economist.com/node/1091341|accessdate=3 September 2017|work=The Economist|date=18 April 2002|url-status=live|archiveurl=https://web.archive.org/web/20170903210756/http://www.economist.com/node/1091341|archivedate=3 September 2017}} In 2003 Sidanko merged with TNK, Onako and the majority of BP's oil assets in Russia to form TNK-BP.{{cite news|title=Timeline: BP's chequered history in Russia|url=https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8750000/Timeline-BPs-chequered-history-in-Russia.html|accessdate=3 September 2017|work=The Daily Telegraph|language=en|url-status=live|archiveurl=https://web.archive.org/web/20170911025127/http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8750000/Timeline-BPs-chequered-history-in-Russia.html|archivedate=11 September 2017}}

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{{portal|Russia|Companies|Energy}}

• [https://web.archive.org/web/20010606013917/http://www.sidanco.ru/estartpage/ Official website] (archived)

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{{BP|state=collapsed}}

Category:Companies based in Moscow

Category:Defunct oil companies of Russia

Category:Former BP subsidiaries

Category:1994 establishments in Russia

Category:2001 disestablishments in Russia