Exxon Sues U.S. Over Fine Levied for Russia Deal Under Tillerson
Exxon Mobil Corp sued the U.S. government on Thursday, blasting as “unlawful” and “capricious” a $2 million fine levied against it for a three-year-old oil joint venture with Russia’s Rosneft. The U.S. Treasury Department on Thursday morning slapped the world’s largest publicly traded oil producer with the fine for “reckless …
Russia’s Rosneft Plans to Open Mozambique Office – Diplomat
Rosneft is preparing to open an office in Mozambique, a senior Mozambican diplomat said, a further sign that the Russian oil major is eyeing oil and gas deals in Africa. Mozambique’s Ambassador to Russia Mario Saraiva Ngwenya also told Reuters that Mozambique expected to sign by the end of the …
Rosneft: Wins the Erginskoye License
Rosneft, based on the results of the auction, obtained the right to develop Erginskoye license area of federal importance. Acquisition value amounted to 20.7 bln rubles. Rosneft offered the best price at the auction having the maximal capabilities for the synergy and the most efficient scheme of the area’s development. …
Rosneft and CEFC China Energy Company Sign Strategic Cooperation Agreement
Rosneft and CEFC China Energy Company Limited signed a strategic cooperation agreement during the official visit of the President of the People’s Republic of China to Moscow. The Strategic Cooperation Agreement envisages cooperation of the parties in such areas as exploration and production, oil refining and petrochemicals, crude oil and …
Rosneft and Beijing Gas Close the Deal for Sale and Purchase of 20% shares in Verkhnechonskneftegaz
Rosneft and Beijing Gas Group Company Limited (“Beijing Gas”) closed the deal for sale and purchase of 20% shares in Verkhnechonskneftegaz (a Rosneft subsidiary). The price of purchased 20% stake amounted to around USD 1.1bln. As a result of the transaction, the parties are going to create a vertically integrated …
Rosneft Cuts Oil Output with an Eye to Ramping Up Again
Russia’s Rosneft is ready to resume full oil output quickly once OPEC-led cuts end as the country’s top producer has focused its own cuts on newer fields, its chief executive has said. Those cuts run until June 30, though oil ministers from OPEC and non-OPEC countries meeting in Vienna this …
Rosneft and Eni To Extend Cooperation in Russia and Abroad
Rosneft and Eni S.p.A. entered into a Cooperation extension agreement in the areas of upstream, refining, marketing and trading during the visit of an Italian delegation to Russia. The document was signed by Rosneft CEO Igor Sechin and Eni CEO Claudio Descalzi in the presence of Russian President Vladimir Putin …
Rosneft and Tecnoclima S.p.A. Agree on the Supply of Climatic Equipment for Drilling Rigs
Rosneft and Tecnoclima S.p.A. entered into a Cooperation Agreement on the supply, modernization and maintenance of heating and ventilation systems for drilling rigs during a visit of the Italian delegation to Russia. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Tecnoclima Chief Executive Officer Giulio Vescovi …
Rosneft: Q1 2017 Results – Upstream Costs Down 6.7% per Barrel
Y/Y EBITDA growth by 22.0% in RUB terms and 54.1% in USD terms Threefold growth of FCF q/q Decrease in upstream costs per boe by 6.7% q/q Improved efficiency and realized synergies from Bashneft integration Planned capital expenditures growth by 24.7% y/y with sustainable free cash flow Consolidated IFRS financial …
Rosneft: Reducing Drilling Time – Combined Production String and Multi Stage Fracturing Completions
History of Success RN-Yuganskneftegaz (RN-YuNG) is a major oil company, and part of NK Rosneft. Formed in 1977, it has 26 oil fields under development located in Khanty-Mansiysk, Western Siberia. RN-YuNG has also been developing relatively new fields such as Priobskoe and Prirazlomnoe that feature a relitively low depletion of …