Click here to read the corrected article. Tuesday, Nov. 28, 2000. With Moscow s gasoline prices higher than ever, British Petroleum and a joint venture of Tyumen Oil Co. and Texaco have announced plans to open gas stations throughout Moscow and the surrounding region.
Companies can earn very good profit margins.
The biggest player is the Moscow Oil Co., or MNK, which runs 250 stations and is owned by the Moscow government and the private British firm Sibir Energy, according to Kommersant newspaper. The bulk of the stations do not belong to franchises and are run by independent operators. Click here to read our special report on oil and gas. British Petroleum announced plans last week to increase the number of stations it operates in Moscow from 25 to 120 by buying up and renovating existing stations, BP spokesman Boris Sukhoverkhov confirmed Monday. Tyumen, or TNK, which already has 60 stations, reached a tentative agreement last week with U.S. oil company Texaco to build and operate another 60 stations in the Moscow region and also 30 stations around Kiev, Interfax reported.