Lukoil and Rosneft Sign a Deal on Long-term Cooperation
President of Rosneft Eduard Khudaynatov and Head of Lukoil Vagit Alekperov signed an agreement on long-term cooperation between their companies. Deputy Prime Minister Igor Sechin was present during the signing ceremony. Capitalizing on the successfully developing cooperation between the two companies and striving for improved profitability of existing projects, Rosneft …
SLAVNEFT HAS COMPLETED THE SALE OF CJSC JV MEKAMINEFT
As part of the implementation of supporting service assets of OAO Slavneft completed the procedure for the sale is part of the Joint-Stock Company “Joint Venture” MeKaMineft. Buyer 8,085 shares constituting 61.25% of the share capital of the company, was sold to OOO “Investment company” Denmar-Finance. CJSC JV “MeKaMineft” is …
KMG EP Closing of acquisition of a 50% stake in Ural Group Limited
KazMunaiGas Exploration Production announces the closing of the transaction to acquire a 50% stake in Ural Group Limited (UGL) from Exploration Venture Limited (EVL). UGL owns the exploration license for the block Fedorovskiy through 100% stake in LLP “Ural Oil and Gas” (UOG). As previously announced, the deal price was …
Rosneft accepts BP’s proposal to extend the deadline for the deal
BP has asked Rosneft to extend the deadline for the share swap agreement, pending the final decision of the Arbitration Institute of the Stockholm Chamber of Commerce, and in order to implement the share swap transaction between Rosneft and BP. Without waiving any of its rights, the Russian oil company …
Rosneft Board of Directors recommends a 20% dividend increase, to RUB 2.76 per share
The Board of Directors of Rosneft convened in regular session to discuss issues relating to the Annual General Meeting of Company shareholders (on the results of 2010). The Board approved the following agenda topics: Approval of the annual report; Approval of annual financial statements, including profit and loss statements (profit …
BP and Rosneft Extend Share Swap Deadline
BP announced today that it has agreed with Rosneft to extend the deadline for completing the share swap agreement (previously announced on 14 January) to 16 May 2011. The agreement between the two companies followed the 8 April decision of the arbitral tribunal to allow them to discuss extension of …
Vladimir Milovidov Appointed Vice-President at Rosneft
Vladimir Milovidov, formerly head of Russia’s Federal Financial Markets Service (FFMS), has been appointed Vice-President at Rosneft. Mr. Milovidov will be responsible for innovation development and the introduction of new technologies in business processes. He will oversee the Department of Scientific and Technological Development and Innovation, which replaces the defunct …
Polarcus Limited – Successful placement of convertible bond offering
Polarcus Limited is pleased to announce that, due to overwhelming investor demand, the Company has decided to close the previously announced offering of USD 125 million in principal amount of Senior Secured Convertible Bonds (the “Bonds”). The Bonds to be issued by Polarcus are convertible into common shares with an …
Regular Meeting of the Rosneft Board of Directors
The Board of Directors of Rosneft convened. In attendance were: Igor Sechin – Deputy Prime Minister of the Russian Federation, Chairman of the Board of Directors of Rosneft; Yuri Petrov – Head of the Federal Agency for State Property Management; Nikolai Tokarev – President of Transneft; Andrei Reus – Director-General …
Polarcus Arctic operating procedures qualified by DNV
Polarcus Limited is pleased to announce that the Company has today received a Statement of Qualification from Det Norske Veritas (DNV) to qualify Polarcus’ Arctic operating procedures according to industry best practice and relevant standards. The Statement of Qualification was presented to Polarcus at the 7th Annual Arctic Shipping Summit …