Rosneft Signs Long-Term Supply Deals via Druzhba Pipeline
On February 1, 2013 Rosneft President and Chairman of the Management Board Igor Sechin visited Hamburg to sign a contract for supply of crude oil via the Druzhba pipeline to Poland, where the crude will be purchased by PKN Orlen, owner of the Plotsk refinery. The amount of the contract …
Rosneft Posts Record 2012 Net Profit of RUB 342 Bln and Daily Hydrocarbon Production of 2.7 Mln Boepd, Signs Agreements on TNK-BP Acquisition
On 1 February 2013 Rosneft published its full audited consolidated IFRS financial statements for Q4 2012 and FY 2012. Key operating and financial highlights Q4 2012 Q3 2012 Change, % 2012 2011 Change, % Operating results Hydrocarbon production, th. boepd 2,823 2,729 3.4% 2,702 2,586 4.5% Crude oil production, th. …
Rosneft Head Igor Sechin Completes Working Visit to Venezuela
On January 29-30, Igor Sechin, President and Chairman of the Management Board at Rosneft, led a Russian delegation comprising representatives from INTER RAO UES, RusHydro, Uralmash NGO Holding and Kamaz, as well as Russian bankers and businessmen, on a working visit to Venezuela. The head of Rosneft held talks with …
Russian Delegation Led by Rosneft President Igor Sechin Begins Work in Venezuela
A Russian delegation led by Rosneft President Igor Sechin began work in Venezuela on 29 January. During the visit Igor Sechin, President and Chairman of the Management Board at Rosneft, will hold talks with Diosdado Cabello, head of Venezuela’s National Assembly, Venezuelan Vice President Nicolás Maduro, Rafael Ramírez, Venezuelan Oil …
Rosneft Brings its Highest Quality Standards to the Belgorod Region’s District Centers
Rosneft has launched two service stations in the Belgorod region. The opening ceremonies were held at service stations in the village of Ivnya and in the city of Stary Oskol. The conversion of a gas station into a service station in the village of Ivnya is one of the examples …
Rosneft Begins Euro-5 Diesel Sales
Rosneft has started shipping Euro-5 compliant winter diesel to Moscow, the Bryansk, Smolensk, Archangelsk, Murmansk regions and the Krasnodar territory. The fuel will be marketed through the Company’s own distribution network. The production of Euro-5 diesel fuels at the Novokuibyshevsk refinery became possible thanks to a large-scale investment program being …
Russia Explores Old Nuclear Waste Dumps in the Arctic
The toxic legacy of the Cold War lives on in Russia’s Arctic, where the Soviet military dumped many tonnes of radioactive hardware at sea. For more than a decade, Western governments have been helping Russia to remove nuclear fuel from decommissioned submarines docked in the Kola Peninsula – the region …
Eurasia Drilling Sees 50% Growth Potential in Horizontal Drilling in 2013
Eurasia Drilling expects sales to grow 12.5 percent to $3.6 billion this year as the largest Russian oil driller boosts lucrative “horizontal” projects. “The main reason is horizontal drilling, which should be up substantially,” Chief Financial Officer Richard Anderson said today by phone from Moscow. “The wells cost more.” Total …
Igor Sechin Reports to Vladimir Putin on Rosneft Performance in 2012
Rosneft CEO Igor Sechin reported today to the President of the Russian Federation Vladimir Putin on Rosneft performance in 2012. In his report Igor Sechin noted that the Company tax payments to the budget amounted to 1.7 trillion RUR or 12% of all budget tax revenue. “Rosneft is actually the …
Rosneft Reserve Replacement Ratio Exceeds 130%, Hydrocarbon Resources Growth Nears 50%
Rosneft reviewed the results of DeGolyer & MacNaughton’s independent audit of its hydrocarbon reserves. According to the results of an audit performed by DeGolyer & MacNaughton under the SEC life-of-field classification, as of December 31, 2012 Rosneft proven hydrocarbon reserves stood at 18,956 million BOE. That includes oil reserves of …