BP to Buy Back $8 billion of Shares, Returning its 2003 Investment in TNK-BP to Shareholders
BP announced today that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to …
Rosneft Consolidates 100% of TNK-BP
Rosneft today announces the completion of transactions to acquire TNK-BP. Rosneft has finalised the deals to acquire BP’s 50% share in TNK-BP in exchange for $16.65 billion in cash and 12.84% of Rosneft shares. Separately BP acquires 5.66% of Rosneft shares from OFSC ROSNEFTEGAZ. As a result of these transactions …
Rosneft Finalises Acquisition of AAR’s 50% Interest in TNK-BP
Rosneft has finalized the acquisition of AAR’s 50% share in TNK-BP in exchange for cash consideration of $27.73 billion USD in correspondence with the terms, agreed upon by the parties in October 2012. This amount is calculated basing on the terms of purchase price formation, stipulated by the purchase agreement. …
Rosneft and BP Complete TNK-BP Sale and Purchase Transaction
Key points: Rosneft and BP today completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions: o BP receives net $12.48 billion in cash, including a TNK-BP dividend of $0.71 billion, and 18.5 per cent Rosneft shares; o Rosneft becomes …
RPI Reports: The Number of Offshore Subsoil Users Should Be Increased
At the end of November 2012, the Deputy Prime Minister of Russia Arkady Dvorkovich said that “the question concerting the list of companies authorized to work on the Russian shelf will be discussed until around February 2013. A number of companies have shown interest in joining this work. A final …
Exploring for Shale ‘Sweet Spots’
David Bamford, bamford_windward@hotmail.com Not a week seems to go by nowadays without an international ‘deal’ for the exploration for unconventional resources being announced in the ‘trade press’. So, for example, Exxon and Rosneft are about to start exploring the Bazhenov shale in Russia, Ukraine and Shell have just announced a …
Rosneft Subsidiary Acquires Interest in ExxonMobil Gulf of Mexico Exploration Blocks
Neftegaz America Shelf LP (Neftegaz), an indirect independent subsidiary of Rosneft, acquires 30 percent interest in 20 deepwater exploration blocks in the Gulf of Mexico held by ExxonMobil, under an agreement signed by the two companies. Neftegaz America Shelf LP (Neftegaz) joins ExxonMobil to explore deepwater Gulf of Mexico Neftegaz …
Rosneft Holds Board of Directors Meeting: Dudley Proposed as candidate
The Rosneft Board of Directors held a meeting on March 4, 2013 and ruled to call the Annual Meeting of Company’s Shareholders (for 2012) in the form of holding a General Meeting (compresence of Company’s shareholders) in St Petersburg on June 20, 2013. The list of those entitled to participate …
Rosneft and Eni Sign Agreement to Develop Trading and Logistics Opportunities
Rosneft and Eni agreed to strengthen their cooperation by signing a strategic agreement to develop trading and logistics opportunities. The agreement was signed on February 23 in Rome by Igor Sechin, Rosneft President and Chairman of the Management Board, and Marco Alverà, CEO of Eni Trading & Shipping (ETS). The …
Rosneft President Igor Sechin Holds Working Meeting with Vice Premier of the People’s Republic of China Wang Qishan
Rosneft delegation led by Igor Sechin began its work in China on February 17. Rosneft President and Chairman of the Management Board Igor Sechin held a working meeting with Vice Premier of the People’s Republic of China Wang Qishan. The parties discussed a broad range of issues related to increasing …